Engineers confident about job prospects in 2012
New research suggests engineers are more confident about their job prospects in 2012 than they were this time last year.
Giant group plc found that 61% of contractors expected their pay to rise in 2012, compared to just 51% who forecast a pay increase at the end of 2010.
This, it says, is because engineers have shown a growing preference for higher hourly pay over a longer term contract. When asked which they would prefer, 59% said they would opt for a longer term contract, down from 67% of engineers polled last year.
"Market confidence has clearly strengthened over the past year, despite the faltering recovery and the eurozone crisis," said giant md Matthew Brown. "Demand for engineering skills is holding up well and is one of the bright spots in an otherwise weak jobs market."
Brown continued: "Despite the economic outlook, skills shortages remain a perennial concern. An ageing workforce, and a lack of specialist university courses, is exacerbating skills shortages in some engineering disciplines. Given the supply side constraints, if hirers face more intense competition for skills next year, it could drive up pay."
Brown believes the growth of the nuclear industry, coupled with the development of renewable energy sources and clean fossil fuels, will stimulate demand for process and chemical engineers in the years to come.
He warned, however, that sectors such as aerospace face increasing threat due to skills shortages.
