For September – December 2012 unemployment was at its lowest in 18 months, dropping to 2.5m -the equivalent to 7.8% of the adult population aged between 16 and 64.
Interestingly the increase of people working part time continues to rise. In quarter 4 2012, 190,000 more people were reported to be working part-time compared to in the same period 2011.
These general figures are mirrored in the financial services job market, AFR started to see the emergence of people looking for part time roles and businesses looking for part time financial support early 2012.
Phil Scott, Director at AFR Consulting said; “The part time working trend could be attributed to businesses reducing hours of existing staff or only recruiting temporary or part time contracts.
“However our experience suggests that professionals at all ends of the spectrum – from employees to directors are looking for greater work-like balance.”
“Many older and more senior finance managers, directors and controllers have reached their career peak and are choosing to look for less hours and a varied portfolio of work.
“Equally finance professionals at the younger end of scale are keen to accommodate more traditional family care commitments.”
Phil added: “In response AFR Consulting launched www.parttimefds.com specifically for top level finance professionals looking for a new career direction.
“In today’s climate, many businesses require strategic finance direction to steer them through difficult times or to help them grow to the next level but do not necessarily have the workload – or budget to accommodate a full time member of staff and struggle to make the jump from having just a book keeper or supportive accountants.
“A short term contract or part time basis has lower short-term costs which prove preferable amid the uncertain economic outlook.”