Contractor pay growth picked up from January
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A recent report has revealed a mixed bag for the UK’s contracting sector with temp billings slightly softening but rates of pay increasing.
The latest Report on Jobs, carried out by Markit and the Recruitment and Employment Confederation (REC), found that job opportunities continued to increase in February, however the availability of professionals to fill vacancies declined at the steepest rate of reduction.
Umbrella company contractors will be pleased to learn that pay growth picked up slightly from January and was the second-fastest seen in nine months.
It was also found that looking at a regional analysis, agencies based in the North of England saw the quickest increase in contractor billings.
Engineering was the most sought-after category for contract staff in February, closely followed by Nursing/Medical/Care and Blue Collar.
REC Chief Executive Kevin Green, commented on the recent survey (before the Budget announcement), “The Chancellor is expected to announce a boost for vocational training in today’s budget and this is very welcome. However, it won’t solve the immediate need for people to fill jobs. We’re already seeing acute staff shortages in a variety of sectors, from healthcare to engineering. This is likely to get worse, especially if the Government continues to refuse the rights of EU citizens living in the UK post-Brexit.”