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Accountancy recruitment - October 2009
Accountancy News |
12/10/2009
They will hardly need reminding of it, but anyone looking for an accountancy job in recent months will have had to dig hard to find good news. Now, after two years of austerity, it seems that the gloom which surrounded even the best-placed companies in the City is starting to lift, albeit it slowly. The latest survey from the Confederation of British Industry (CBI) and PricewaterhouseCoopers (PwC) has revealed that business volumes in the industry increased by a balance of +7 per cent over the last quarter. Although this is by no means a massive rise, it is the first time the figure has entered positive territory since September 2007.
So, is this the turning point that accountancy job hunters have been hoping for? Well, it might be the beginning of the end of turmoil in the sector, but the report carries the same caveat which has been a common feature of other recent studies that have predicted an end to the recession. In this case, the PwC/CBI report points out the vast majority of firms are still worried a sluggish economy will hamper further expansion in 2010.
Ian McCafferty, the CBI's chief economic adviser, said: "Future demand is still a major concern for financial services firms and further pain will continue to be felt in job losses and lower investment."
Unsurprisingly, Mr McCafferty's comments are reflected in the latest Ashdown Group Job Index. It has revealed that the number of accountancy jobs on offer during September fell by 2.2 per cent when compared to the previous month. The news has not been all bad though. John Lynes, director of the Ashdown Group, explained that despite the falling business volumes highlighted by the CBI and PwC, the finance jobs market held up slightly better than other sectors during the first half of 2009. However, he warned people not to expect miracles over the coming months. Mr Lynes said: "The traditional autumn outlook would suggest that the number of vacant permanent jobs falls away from a September peak to a Christmas low."
So it seems that, regardless of whether the UK's gross domestic product climbs or falls over the next few months, those looking for accountancy jobs will still face a fight to ensure they can distinguish themselves from the rest of the pack. Now might be a good time for companies which are in a position to hire to take full advantage of the highly-motivated pool of talent on which they are able to draw.
Posted by Jon Aspinell.
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