Automotive industry boom for contractors clear reversal after decades of decline
Automotive industry boom for contractors – clear reversal after decades of decline
23% of engineering contractors expect increased job opportunities in the automotive industry
Engineering contractors expect most new job opportunities to be in the automotive sector over the next year, according to the latest survey by giant group, the professional umbrella employment provider.
According to giant, 23% of engineering contractors expect a growth in job opportunities in the automotive sector over the next 12 months, up from just 10% this time last year.
Matthew Brown, Managing Director of giant, says: “The UK’s car building industry is going through a renaissance – it’s a reversal of decades of decline. Recent investments by car companies in their UK plants have been a huge vote of confidence in the industry and UK automotive contractors.”
Brown adds: “Jaguar Land Rover’s increased investment in the manufacture of new models at UK plants has led to the creation of over 1000 new jobs, including opportunities for contractors.”
Similar large scale multi-million pound investments by Mini, Nissan and Honda in UK facilities have also contributed to job creation across the sector.
However, the research by giant also shows engineering contractors are increasingly valuing the security of long-term contracts over higher pay per hour. In 2012, 77% of contractors preferred long term contracts over higher pay per hour, compared to 59% this time last year.
Matthew Brown says: “Contract work has many advantages, with typically more generous pay for short-term contracts. However, with the jobs market going through a sluggish period, it is not surprising that contractors are increasingly keen to find the security of a long term contract.”
In the engineering sector overall, giant’s research shows that an increasing number of engineering contractors expect to experience longer gaps between roles in the next 12 months. 65% of contractors expect to have longer periods between employment this year compared to 60% in 2011 and 52% in 2010.