Contractor Vacancy Growth Reached A 16-Year High In August

The number of contractor vacancies grew at the quickest rate since May 1998 during August of this year, according to figures cited on Contractor Calculator. The growth is said to be primarily down to increased recruitment in various regions of the UK, which suggests contractors are searching outside of London for well-paid contracts.

Interestingly, hiring in the capital’s financial sector fell; this is thought to be a consequence of the “summer slowdown”. August proved a “challenging month” for City recruitment, but this “blip” was to be expected, according to Hakan Enver, Morgan McKinley Financial Services operations director. The slow month was not reflective of the overall upward trend in hiring, as was seen in the 18% rise in vacancies over the year.

The latest REC (Recruitment and Employment Confederation) report shows that the shortage of skills is forcing clients to talent-hunt in areas other than London, meaning that both the rates and opportunities are increasing for contractors.

REC’s CEO, Kevin Green, claimed that although the jobs market is often regarded as very “London-centric”, this data proves that rates for both temp pay rates and permanent starting salaries grew at a faster pace in the South, Midlands and North in August.

Green is very optimistic about contractor prospects, especially with regards to the core contracting disciplines. He stated that these statistics are excellent news for people who are job hunting, as we are witnessing an increasing amount of people being placed into roles across all regions and sectors – from construction to IT and engineering.