Contractor billings increase at fastest rate for over two years

Positive news for the contracting sector comes from the most recent Markit / Recruitment and Employment Confederation report, which has revealed that billings have increased at the fastest rate for two-and-a-half years.

The latest Report on Jobs also found that hourly pay rates continued to increase sharply and it was the Blue Collar sector that recorded the quickest upturn in demand of all nine job categories in July. Hotel & Catering and Nursing/Medical/Care also saw steep increases in demand.

Kevin Green, REC Chief Executive, commented on these latest findings, “The jobs market continues to confound expectations with both permanent and temporary placements growing at the fastest rate for over two years. Starting salaries are also still rising, so for workers who want to boost their earnings now is a good time to consider moving job. 

“It's clear that employers are having to work even harder to fill jobs as vacancies rise and candidate availability shrinks. UK employment remains at an all-time high and looks set to keep improving. The parts of the economy most reliant on European workers are under even more pressure as many EU workers return home. Employers are not just struggling to hire the brightest and the best but also people to fill roles such as chefs, drivers and warehouse workers.

“London in particular is feeling the Brexit effect. Hiring is still growing but at a much slower rate compared with every other region of the UK. Financial services, a crucial part of the London labour market, are not hiring in their usual quantity as the uncertainty caused by Brexit makes them hesitant.

“We can’t ignore the importance of our relationship with the EU to employers. If we want to keep our jobs market successful and vibrant, we must make it easier, not harder, for employers to access the people they need.”

Alastair Stallwood is an Apprentice for ContractorUmbrella Ltd, one of the UK’s Most Respected Umbrella Companies.