A sign of an improving market?

An increased demand for project managers is one of the signs we’re looking for when trying to figure out if the market is improving. Why? Because, of course, they’re the first freelancer or consultant you hire when you think it’s a good time to start project, and new projects generally don’t start in a weak market.

The demand for project managers and technical project managers increased by 7 % from the first half of 2023 to the second.

When comparing 2023 to 2022 there was actually a decrease in demand: -8.9 %, but thanks to a strong second half of 2023 the demand returned to the same level as in the second half of 2022.

Sellers’ hourly rates also increased slightly. The average project manager rate in Sweden in 2023 was 980 SEK/h (+13 SEK) and the average technical project manager rate was just a bit behind.

There are more signs in society in general pointing to the fact that this recession we’re currently in hopefully might be in our rearview mirror within a reasonable time frame. For instance, the Swedish “Riksbanken” is expected to announce a decreased policy rate this spring or summer and the inflation has been trending in positive direction for a year, almost reaching the inflation target in December 2023.

There are also signs pointing in the other direction. The level of available freelancers and consultants is still high and opportunities for one of our largest roles, system developers, is still down. Yet again, hourly rates in general did not decrease during 2023 compared to 2022.

Interested in reading more about the market for freelancers and consultants in the Nordics in 2023? Download our report!