Bouncing back: how the temp workforce is leading economic revival

As England fans continue to come to terms with football not coming home at Euros 2024, there’s another story of resilience worth celebrating; the hardiness of the UK’s temporary workforce, both during the economic downturn, and as we start to emerge from it. 

Much as the Three Lions showed grit on the pitch, the contingent workforce is proving itself to be a backbone of the economy, especially as Keir Starmer’s new Labour government sets its sights on economic revival.

Tentative growth in temp billings

Recent data brings positive news for the contracting sector. According to the REC’s  latest Report on Jobs, June saw a notable return to growth in temp billings. This marginal but significant increase, the first since October, hopefully marks a turning point and is indicative of a return to wider economic growth.

This development not only reinforces the increasing demand for flexible staffing solutions as businesses adapt to the evolving economic conditions, but highlights the resilience of the contingent labour market. It’s clear that the temp workforce is bouncing black, driving economic revival with renewed vigour. 

Meeting the needs of a recovering economy

In her first speech as Chancellor, Rachel Reeves pledged to “take immediate action to fix Britain’s economic foundations” and build growth on stability, investment and reform. 

The new government’s policies emphasise investment in infrastructure, technology, and sustainable industries, initiatives which are expected to drive job creation and enhance productivity. For recruitment agencies, this translates into a burgeoning market with greater demand for skilled and adaptable temporary workers who can meet the needs of a revitalised economy. 

The focus on sustainable development opens new avenues for employment in green industries. The push towards renewable energy, environmental conservation, and sustainable practices will likely generate numerous job opportunities, requiring recruitment agencies to diversify their talent pools to include expertise in these emerging fields. 

At Liquid Friday, we remain committed to supporting recruitment agencies and their candidates through these transformative times. Our services are designed to provide seamless payroll and broader workforce solutions, compliance assurance, and comprehensive support that enables agencies to get on with the business of placing the right candidates in the right roles. We understand the evolving demands of the market and are dedicated to helping our partners navigate the challenges and opportunities ahead.

As the Labour government’s strategies take effect, we are optimistic about the future. The green shoots of recovery visible in the latest REC report signal the beginning of a sustained economic upturn. Together, with the recruitment industry and temporary workforce at the forefront, we are set to embrace the opportunities that lie ahead and contribute to a thriving UK economy.

And hey England, the Lionesses can bring it home next year!