Bank of Scotland reveals contractor demand remains strong

(2 minutes to read)

The latest Bank of Scotland Report on Jobs has revealed great news for contractors north of the border.

Figures from June show that the Bank of Scotland Labour Market Barometer (a composite indicator designed to provide a single figure snapshot of labour market conditions) rebounded to a survey-record high of 65.1 in June, up from 61.8 in May. The increase in the barometer was the first since February, and reflected a similar upturn at the UK level.

Having accelerated for the second month in a row, the rate of decline in temporary candidate numbers was sharp and the most marked in eight months, however, as a result of this contractor pay rose solidly and at a slightly faster rate than in the previous survey period.

Demand for contractor and temporary staff strengthened significantly, with vacancies rising to the greatest extent in four months.

The report found that growth in temp billings was broad-based, with the most marked increase seen in Aberdeen.  Aberdeen also registered the most marked rise in contractor/temp hourly pay rates.

The Nursing/Medical/Care sector saw the most marked rise in temporary job vacancies in Scotland, followed by IT & Computing.

Donald MacRae, Chief Economist at Bank of Scotland, said, “June’s Barometer reached a record high in the eleven and a half years of the survey. The number of people appointed to jobs increased while vacancies grew at a robust rate. The number of candidates available for both permanent and temporary jobs fell accompanied by a record rise in starting salaries. The recovery in the Scottish economy looks set to continue.”


Simon Dolan is the Sales & Marketing Manager for Contractor Umbrella Ltd, one of the UK’s Most Respected Umbrella Companies and founder member of AllUmbrellaCompaniesAreEqual.
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