Reply to: State of the Market

[SussexSeagull]

The Truss/Kwarteng mini-budget was exciting but that wasn't exactly a good thing. The new government need to set their stall out and hopefully start to rebuild confidence.

A lot of the people moaning about tax rises are the same people who moan about pot holes and public services not being great. Something has to give.

[hobnob]

If a project needs to be done, the requirement doesn't magically go away, but if you don't know what changes the budget may bring which could influence certain decisions then it's right to hold off a short while.

Yeah, I agree with that. On a personal level, it's similar to when you have a fixed rate mortgage which is ending soon: it's prudent to wait until you know what your new monthly payments will be before you buy a new car.

[SchumiStars]

Right. Going to the gym. Market is ****ed, hardcore you know the score.

[ladymuck]

I don't necessarily think the budget will make anyone excited or enthusiastic but I suspect it's more that people and companies will know what is coming and how it affects them once all the announcements have been made and the analysis done.

If a project needs to be done, the requirement doesn't magically go away, but if you don't know what changes the budget may bring which could influence certain decisions then it's right to hold off a short while.

[dsc]

well. someone's got to replace all the wonga the Torys gave to their chums in 2020.

Agreed and I'm personally not surprised the plan is to get the monies from somewhere, but at the same time cannot get why some people think this particular budget will somehow zap the markets back into action. They do have to put some stuff in there to not completely kill the economy, but I think the priority atm is to get more cash in the budget rather than make it easier for companies to get more cash in their budgets.

[sadkingbilly]

well. someone's got to replace all the wonga the Torys gave to their chums in 2020.

[dsc]

I've had a couple of calls from agents who seem to be sorting out their bank of available contractors; I presume in the hope that post-budget there will be work coming

Not sure where those sentiments are coming from as everyone seems to think the budget will be effectively tulip load of taxes :/

[sreed]

Just got offered an extension on my contract until next Sep. For context, I'm a PM, the client is a mid-sized insurance firm and the role is (almost) fully remote. This will probably be the last extension as the two main projects I'm doing now should both be close to BAU by then.

They've been trying to hire permie PMs and BAs for ages but haven't managed to find anyone that fits the bill and has insurance experience, for the pay they're willing to offer. The project sponsor asked if I would be interested in joining as a permie, I diplomatically declined.

Interestingly, they've also got two PMs on temporary secondment (if that is the right way to describe it) from a Big4 firm. Unsure as to how exactly they are paid.

[ladymuck]

I've had a couple of calls from agents who seem to be sorting out their bank of available contractors; I presume in the hope that post-budget there will be work coming

[SussexSeagull]

I found this recruiters roundtable quite interesting last week.

Give a few reasons for the current lull but suspect we might have bottomed out.

[dsc]

Market update: we have bounced off the bottom but that was a double bottom.

Inverted bounce, so going further down...

[Fraidycat]

a lot of sob stories are appearing...

Its the run up to xmas, expect to see even more of those over the next 10 weeks. One of happiest times of year becomes the most depressing if you been out work for months..

[SchumiStars]

This is the worst I have ever, ever seen the market. Perhaps the contracting market is not coming back at all.

[Cookielove]

I've more or less given up on LinkedIn now it is getting harder and harder to sift through all the Facebook style posts people posting about weddings, births, nights out and promotions and all sorts...it isn't job/business focused but has become akin to an Agony Aunt style page...all sorts of drivel and too many ads.

It is almost pointless...agree with the other poster a lot of sob stories are appearing....each to their own I know but I wouldn't do down that route.

[Cookielove]

Good luck! Hopefully it'll tide you over until something better comes along.

Thanks !

It has all gone quiet and agency not responding so don't think it's going to happen....