Accounting & Finance Market Wrap - March 2023
Is the market softening?
Well, yes. Definitely. It’s a question I’m asked daily at the moment from candidates and clients alike who are keen to understand how the recruitment/employment market is trending amidst the constant news of inflation, interest rates and redundancies (largely in tech and now increasingly in internal recruitment). From my perspective, however, you need to apply some context. We’ve just come out of an incredibly buoyant recruitment market the likes of which I hadn’t seen previously in my 15-year career. For now, at least from a recruitment perspective, we’re seeing an adjustment and realignment to pre-covid levels. If I look at key metrics, like vacancies listed, then yes, they’re falling, which may give pause, but taking a more holistic view, they’re simply settling back to pre-covid levels, which was still a healthy level of activity.
Will this worsen as the year progresses? Always the optimist, I would like to think not, but I suspect we haven’t hit bottom yet. Wherever we do land, I am fairly certain it will be far from the ‘blood on the streets’ saga of the GFC, which people keep referencing (why?). What are your thoughts, experience and expectations? I would love to hear your thoughts if you have your own predictions.
Market Quick Hits:
In other news: We now have a dedicated tax specialist!
Callum McWhinnie joins u&u following a recruitment career spanning over 7 years, where he has helped build tax teams for well-known groups across Europe, the Middle East, Asia and North America and will be responsible for specialist tax recruitment for clients across Australia (practice and commercial). If you are recruiting in tax, give me a shout and I will connect you with Callum.
As always, if I can assist on the recruitment front or provide any insights into current trends, salary data etc. I’m only a phone call away.