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Contractors to benefit from job opportunities being at five-year high

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Contractors will be interested to hear that the latest reed.co.uk survey has shown that job opportunities are now at a five-year high, as business confidence continues to rise.

For the first time since the Reed Job Index began four years ago, all 12 UK regions have shown both a monthly and annual growth in jobs.

The figures revealed that there are now more than 165,000 live job opportunities available in the UK, which is the highest recorded since September 2008.

The Reed Job Index now stands at a record of 180, which is up from 166 two months ago, and 138 at the beginning of 2013.

It was the retail sector that experienced one of the biggest rises in job advertised, with a 17% monthly growth; the construction sector also showed positive results with a 74% rise compared to last year.

The report also found that the manufacturing, automotive and logistics sectors all showed significant annual growth last month.

James Reed, chairman of reed.co.uk, said, “October’s Reed Job Index is further evidence of the continued recovery our figures have been showing for many months now. Importantly, this is the first time we have seen growth across every sector and in every region since we started the index at the end of 2009, which is good news for businesses and people around the country. As an economic indicator, the jobs market is demonstrating confidence from employers across the UK to hire new staff, grow their business and support a strengthening economy.

“As we approach a new year, business, government and industry commentators will be keeping a close eye on employment figures as a sign of what 2014 may bring. Particularly in light of the fact that any interest rate rises will be informed by unemployment levels. However, despite a record month for employment, we’re still a long way from celebrating a successful recovery as salaries remain unaffected.”

If you’re thinking of becoming a contractor, or are new to the contracting world and want to know what expenses you can claim, read our comprehensive contractors guide to company expenses for information on what you can claim, how expenses affect your tax bill and what is classed as a valid business expense.

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