New research from the Recruitment and Employment Confederation and KPMG has revealed that the demand for contractors is now being reflected strongly in pay rates as they increase at the sharpest rate since November 2007.
Increases in demand have been recorded for both permanent and temporary staff, more so in the private sector. This change in pay rates is coupled with declining contractor availability as June saw the greatest decrease since March 1998. Permanent staff availability also saw a decline at a pace not seen since October 1997.
Findings at a glance:
- Temporary staff billings rose at the greatest pace for five months
- The Midlands are seeing the highest demand for contractors, with opportunities also increasing in the North of England
- Temporary workers play a key role in the economy as they allow for flexible labour and skills on projects across the country
- The engineering, blue collar and construction sectors are showing the greatest demand
Kevin Green, REC CEO, states that although June saw record growth in salaries it also saw the number of workers available to fill vacancies “plummet to an all-time low”. He continued: “companies must now look to improve their hiring procedures in an increasingly candidate driven market”.
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