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UK contractors continue to experience high demand and higher rates of pay

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The latest Report on Jobs has revealed that contractors continue to remain in demand, as both billings and rates of pay are on the rise.

The Recruitment and Employment Confederation (REC)/ KPMG’s Report on Jobs has shown that temporary billings rose at a healthy pace and pay increased at a solid rate that was sharper than recorded in the previous month. 

Temp billings growth was strongest in the Midlands, while the North posted the slowest rise.

It was also found that public sector demand for staff continued to grow at a solid pace, with contractor vacancies showing a faster rise than permanent roles. 

Engineering was the most sought-after category for temporary/contract workers during April, followed by the nursing/medical/care sector.

REC CEO Kevin Green, commented on the findings, 
“Recruiters continue to place more people in work as the jobs market accelerates. However the jobs market could be jeopardised with thousands of employers not able to find the skills and talent they need to meet increasing demand. The number of candidates available to fill both temporary and permanent jobs is falling at its fastest rate in a decade. In response to this employers are bumping up starting salaries to entice workers they need to join them.”

Bernard Brown, Partner and Head of Business Services at KPMG, added, “The number of people putting themselves on the jobs market has dropped at its sharpest rate since 2004.  It is this shortage of skilled labour that is forcing employers to tempt talent with improved pay, rather than new-found confidence.

“With employers focusing their attention on trying to win over talented people with proven skills and track records, there remains one unanswered question.  We have growing numbers of new entrants to the marketplace looking for work and employers will ignore them at their peril.  Not acknowledging what they have to offer continues the very real risk of losing a generation of talent – it makes no business sense, because without a blend of youth and experience the workplace will no longer reflect the marketplace.”

What’s life really like as a contractor? Visit our Life as a Contractor case studies hub for real life stories on working through your own Limited company, taking money out of your Limited company, understanding IR35 and much more.

If you have any further questions about contracting, or would like to book a free face to face meeting with a member of our New business team, please call 01442 275789 or email newbusiness@sjdaccountancy.com.

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