The financial market turmoil is proving advantageous for London's large temporary and contingent workforce of accountants, bankers and other professionals, according to Joslin Rowe Temporaries.

Nabila Sadiq, managing director of Joslin Rowe Temporaries, told Here Is The City: “In times of volatility everyone presumes all City recruitment falls away dramatically. In actual fact, temporary hiring will usually increase in periods of market adjustment, as some clients capitalise on more flexible recruitment solutions.”

Statistics produced by Joslin Rowe reveal that the past few months of the credit crunch have corresponded with a marked rise in temporary recruitment in the City, with the number of open positions increasing by 9% in the past eight weks. It found that the unsettled market conditions have not impacted on pay, with hourly and daily rates of pay remaining exceptionally competitive.

Sadiq adds: “Most of our contingent or temporary workers are still receiving multiple offers and lucrative contracts. In addition, anyone choosing the temporary route at the moment will be perfectly placed to take advantage of any sudden upturn in the permanent job market. We also expect a high proportion of temporary positions to go permanent once the market recovers.”