Contractor rates of pay rise sharply

(2 minutes to read)

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Contractors will be pleased to learn that a recent report has revealed positive news for the self-employed sector.

The IHS Markit / Recruitment and Employment Confederation’s (REC) Report on Jobs shows that contract/temp billings continued to rise sharply in June, however availability declined at a significant rate.

Vacancies grew at a slow, yet strong scale and rates of pay rose sharply, with the level of growth broadly similar to April’s two-year peak.

Interestingly, blue collar topped the rankings for demand for short-term staff during last month, followed by nursing/medical/care.

Neil Carberry, REC Chief Executive, commented on the findings, “It’s a great time for people looking to take the next step in their careers, as employers compete for new staff in a tight market. It’s a candidate’s market out there.

“Across the majority of sectors, both temporary and permanent opportunities are growing, and a lack of candidates means it is no surprise to see starting pay also rising.

“Recruiters report that some of this high vacancy rate may be driven by good demand from companies not being matched by candidate willingness to move in the face of the current economic uncertainty.

“The one sector that stands out as in a different place is retail. Placements are stagnating as the sector reshapes quickly, driven by changing customer demand and stiff competition. But the type of customer service skills retail workers develop are in huge demand in other sectors, and the sheer size of our retail sector means there are still opportunities in stores.”

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