IT professionals are increasingly turning to contract roles as permanent hiring slows, according to new research from the Association of Professional St.
New data shows certain skilled staff are commanding salary inflation of over 37% in the next year and 63% of workers will reject a lowball pay offer A.
Adding to the BoE worries, recent data shows annual pay growth for some in-demand roles as high as 36.2% • 41% of employers to offer a flat-rate salar.
UK regular pay growth has decreased to 7.8% from 7.9%, while inflation-adjusted pay has increased by 0.7%, the highest since October 2021. Job vacancies have also fallen to a two-year low of 988,000. The softer job market increases the likelihood of the Bank of England keeping interest rates on hold.
The average earnings in the IT sector have increased at a greater rate than the wider UK economy, despite a slowdown in hiring, indicating a continued s.