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Bank of Scotland report reveals contractor rates have risen due to demand

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The latest Bank of Scotland Report on Jobs has been released, showing shown positive result for contractors based up north. 

The recent report has found that contractor hourly pay has continued to rise due to strong demand. 

However, May saw the Bank of Scotland Labour Market Barometer – a composite indicator designed to provide a single figure snapshot of labour market conditions – dip to 61.8, from 62.5 in April. 

According to the Bank of Scotland, ‘the latest reading was consistent with a substantial improvement in labour market conditions north of the border, albeit one that was the least marked for seven months. The barometer was also below its UK equivalent for the second month running’.

Findings revealed that it was the nursing/medical/care sector that led a broad-based rise in demand for contractors north of the border, which was followed in 2nd and 3rd position by IT & accounting and accounts & financial.

Regional analysis revealed Edinburgh recorded a rise in temporary billings alongside Dundee, with the fastest rise in contractor pay rates seen in Aberdeen.

Donald MacRae, Chief Economist at Bank of Scotland, commented on the report, “May’s Barometer showed the Scottish labour market continuing to improve. Not only did the number of people appointed to both permanent and temporary jobs increase over the month but vacancies grew at a robust rate.  This month’s Barometer provides further evidence that the recovery in the Scottish economy will continue through out 2014.” 

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