Recent data has revealed positive news for the UK’s contracting sector regarding rates of pay and billings.
September’s IHS Markit/REC Report on Jobs shows that billings expanded at a slightly quicker pace compared to August, with hourly rates of pay rising much faster. Contractor/temp vacancies also rose further.
Looking at a regional analysis, all four monitored English regions noted increases in billings – the strongest rise was seen in the Midlands, while the weakest expansion was registered in the South of England.
The Recruitment and Employment Confederation (REC) is calling on the government to avoid rushing through IR35 private sector changes.
Citing evidence from public sector changes, the REC believes they could be counterproductive for the Treasury and damage the jobs market at a difficult time for business with Brexit on the horizon.
A new survey of REC members, forming part of their Budget submission, indicates:
Latest data revealed a mild improvement in the performance of the UK manufacturing sector at the end of Q3.
The recent IHS Markit/CIPS Purchasing Managers’ Index (PMI) shows rates of expansion in output and new orders gained traction, while the trend in new export business saw a modest recovery following August's solid contraction.
UK manufacturing production rose for the twenty-sixth successive month in September, with the rate of increase rising to a four-month high.
A contractor has successfully claimed for unpaid holiday pay after HMRC determined that IR35 applied to her engagement and insisted that she join an agency payroll.
A member of the IPSE, Susan Winchester’s landmark case was both funded and backed by the Association of Independent Professionals and the Self-Employed.
The IPSE has responded to a recent TUC report, revealing that half (49%) of self-employed adults aged 25 and over are earning less than minimum wage – a total of two million people.
In the report, it stated that self-employment has accounted for a growing share of the workforce in recent years, rising from 12% of workers in 2001 to 15% in 2018.
But TUC are concerned that the self-employed are earning considerably less than those in employment.
HM Revenue & Customs (HMRC) is reminding people that time is running out for registering for self-assessment.
October 5th is the last date for anyone registering self-assessment for the first time – including High Income Child Benefit Charge customers – it will need to be filled in by this date so that they can complete their self-assessment return by January 31st.
Recent findings have revealed that Britain’s unemployment rate has not been lower since the mid-1970s, falling to 4.0%.
According to the official figures released by the Office for National Statistics, there are now 1.15 million fewer unemployed people since 2010.
Interestingly, the figures show that older workers continue to find work, as the number of those aged 50+ is at a record high of 10.25 million and the female employment rate also remains at a near record high at 71%.
Shadow Chancellor John McDonnell has made the announcement for plans to put a ‘complete stop to exploitation in the workplace’ by extending rights to gig-economy workers.
The Association of Independent Professionals and the Self-Employed (IPSE) have said that the Labour Party’s proposal will ‘strangle innovation at birth’ and make it harder for people to find work that will fit around their lifestyle.
Where Brits lack economy confidence, they more than make up for it with regards to their own finances.
The recent Lloyds Bank Spending Power Report revealed that whilst just two in five (40%) have confidence in the UK’s finances, a clear majority (66%) feel their own finances are in order.
Professionals working within the construction sector will be pleased to learn that latest findings have shown a rise in rates of pay due to skills shortages.
Data from software and service supplier, Engage Technology Partners has revealed that some roles have seen hourly rates more than double in the last four years.
Crawler Crane Operators have noted the greatest increase in rates (82%) between 2015 – 2018, with much of this demand thought to have come from the Crossrail project.