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Scottish contract market continues to recover
Posted Feb 23, 2011
The contract market in Scotland continues to improve according to the latest Bank of Scotland Report of Jobs
The overall jobs market in Scotland recovered at a rapid rate from March 2009 until May 2010, before suffering a 5 month decline. Since November 2010, the market has continued to grow strongly.
According to the report, the rate of contract/temp billings quickened since December to a forty three month high, and hourly contract rates rose for the fourth successive month in January.
The data correlates with the latest CWJobs market report which showed that the number of contract vacancies rose by 6.4% in Scotland in the final quarter of 2010 compared to just 0.9% in England.
Few commentators are willing to make predictions about the future health of the IT jobs market North of South of the border until the impact of the Coalition's cost-cutting measures is known.
Donald MacRae, Chief Economist at the bank, is no exception:
"The Scottish labour market saw a welcome improvement for the third consecutive month, however further improvement is needed before we can be sure that job growth in the private sector will offset future public sector job cuts."
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