Contractors Can Benefit from High Unemployment Rates

The Office for National Statistics (ONS) has recently released unemployment figures that mirror the doom and gloom sweeping the nation. In the three months leading up to May 2008, unemployment in the UK rose by 12,000 to 1.62 million. It is believed that the slump has been caused by employers having to cut jobs in the face of the credit crunch. There are also less vacant positions to be filled, with vacancies falling by 32,200 between April and June 2008.

While this is bad news for the unemployed individuals, and also for the employers that are feeling the pressure to the extent they have had to make the cuts, there may be a silver lining for the contractor/temporary worker sector. High unemployment rates can favor the temporary worker sector as frequent contracts may be created for employers that need to complete job loads without committing to a full-time, permanent contract of employment that they may be unable to sustain in the uncertain future.

For those that have found themselves recently unemployed, a glass-half-full attitude may lead them to consider a career in the contractor industry. Danbro’s services can help enhance income by offsetting expenses against taxable income. As a 100% compliant service provider, acknowledged by HMRC and Professional Passport, our clients can be safe in the knowledge that we are adhering to legislation, whilst still providing maximized tax savings and income security.

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Contact Danbro on 01253 600140.