Contractor hourly pay rose at sharpest rate since 2007

(2 minutes to read)

The latest Report on Jobs has revealed that demand for contractors continues to rise.

The Recruitment and Employment Confederation (REC)/KPMG Report on jobs, which provides the most comprehensive guide to the UK labour market, has shown that there has been a sharp deterioration in the number of available contractors and temps.

However, umbrella company contractors and freelancers will be pleased to hear that because of this, hourly pay has risen at its sharpest rate in nearly seven years.

The latest vacancy data has shown much faster increases in the demand for temporary staff during last month.  Figures also show that staff billings have increased at the sharpest pace for five months.

June’s Report on Jobs survey revealed it was the Midlands that was found to lead the way in terms of temp billings growth, closely followed by the South.

With regards to the contracting sectors, engineering was found to be the most in demand, followed by blue collar and construction.

REC CEO Kevin Green commented on the findings, “June saw record growth in starting salaries.

“However, this month sees the number of workers available to fill vacancies plummet to an all-time low, in particular across business development and sales roles that are vital to boosting bottom lines. There are also persistent shortages across IT and engineering, which are becoming a serious threat to economic growth. 

“The message to UK businesses is that it is crucial to sharpen up hiring procedures in an increasingly candidate driven market.”

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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