Coronavirus Job Retention Bonus: Further Information Released
A new report carried out by the REC has revealed that the demand for contractors has risen during August, for the first time in nine months.
The REC’s (Recruitment & Employment Confederation) Report on Jobs showed positive news for freelancers across the UK, as it seems that the market is doing slightly better than the permanent sector, with permanent staff placements continuing to fall in August.
This is mainly due to the current economic climate and the fact that businesses are wary taking on permanent staff, choosing to instead rely on highly skilled contractors.
The report also revealed that last month, the growth of temporary/contract staff billings was fastest in the Midlands.
REC’s Chief Executive Kevin Green commented on the results, “This month’s data shows yet again the remarkable level of resilience within the UK labour market as it continues to outperform predictions.
“The World Economic Forum highlighted that one of the UK’s key competitive advantages is our job market flexibility – and it’s clear that being one of the most flexible labour markets in Europe has helped the UK avoid the high levels of unemployment experienced elsewhere on the continent.
“Recruiters tell us the first rise in the placement of temp workers in nine months is because employers are calling on that flexibility offered by agency staff as a way to grow to meet recent increases in demand, like that seen last month in the service sector. It’s also a sign that changes to Agency Worker Regulations last year have not resulted in any significant negative impact on the market for temporary labour as some predicted they would.
“Continued growth in candidate availability and vacancy growth are both good indicators for a recovery, although it’s too soon to say we’re out of the woods yet. We think the fall in people placed into permanent work for the past three months is down to a certain ‘stickiness’ in the recruitment process – employer confidence remains fragile and hiring decisions are taking longer than in boom times, slowing down the process of getting people into jobs.”
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