ContractingWorks: Rise in Contractor wages

Hours worked by contractors, and their wages, increased in March, according to a new report.

The latest Report on Jobs, produced by KPMG and the Recruitment and Employment Federation, shows that employment rose sharply in March. The study also said temp billing increased markedly during the month.

Lockdown Relaxation

The increase in jobs and work was attributed to the relaxation of strict Covid-19 lockdown restrictions in the UK and moves towards ‘normal’ business operations.

The report, compiled by IHS Markit, is based on responses to questionnaires sent to around 400 UK recruitment and employment consultancies.

Key Findings

Among the key findings are that, after rising only slightly in February, demand for workers grew rapidly at the end of the first quarter. Notably, the report says, the rate of expansion was the steepest seen for more than two-and-a-half years, driven by marked increases in both permanent and temporary vacancies. 

The report adds that stronger demand for staff led to improved pay trends in March. Starting salaries rose for the first time in 2021, and at a sharp rate, and Temp wages also increased for the first time in three months, with the rate of inflation the quickest seen since December 2019. 

For more information on the latest Report on Jobs click HERE.

Looking for Work?

If you are looking for your next contract, visit the ContractingWorks Job Board where there are almost 12,000 positions listed today.