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Contractors North of the border see a rise in placements and rates of pay

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The latest Bank of Scotland’s Report on Jobs has signalled further sharp increases in contractor placements during last month.

According to Scottish recruiters surveyed, the main reason for this is largely linked to greater client demand.

The Bank of Scotland Report on Jobs, which provides a figure snapshot of labour market conditions, found that temp billings growth quickened sharply during October, and was the fastest since the very beginning of the year.  The report also revealed that it was Glasgow which saw the fastest rise in temp billings.

The report also found that despite rates of pay seeing a six-month low lately, this is no longer the case, as temp hourly pay remained stronger than the long-run series average.  It was also found that the fastest increase in contractor’s rates of pay was found in Aberdeen.

All eight contracting sectors were found to have experienced a rise in vacancies, which is the first universal rise since early last year, and, as has been the case for many months now, it was the nursing/medical/care sector that saw the strongest rate of vacancy growth. 

Donald MacRae, Chief Economist at Bank of Scotland, commented on the findings, “October’s Labour Market Barometer rose to its joint-highest level in over six years taking the index back to pre- recession levels. Demand for staff rose at a marked pace across all sectors while the number of people appointed to jobs rose sharply in the month.

The Bank of Scotland’s findings are very similar to the recent Recruitment and Employment Confederation/KPMG’s Report on Jobs, which found that temp billings have increased at a significant rate, with growth close to the 15-month high seen two months ago.

It was also found that although there was a reduction in the availability of candidates, this is believed to have resulted in the sharp rise of contractor rates of pay.

How much could you be earning as a contractor? Type in your daily or hourly rate into our contractor calculator and see how much you could be taking home.

If you have any other questions about contracting or would like any further advice please call our New business team 01442 275789 or email: newbusiness@sjdaccountancy.com.

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