New figures reveal that average hourly rates for contractors in the UK have fallen in the second half of the year, though opportunities are still available for contractors with skills in demand to earn significantly above the average.
According to reports from Contractor UK average rates have fallen 11 per cent since May, currently sitting at £23.35, down from £26.10.
The fall has been attributed in part to seasonal factors, namely the introduction of new graduates to the market when courses end in June, diluting the labour pool and making it more of an employers' market.
Regional factors also play a key role in contractor rates, with London continuing to offer the greatest opportunities for larger pay rates.
The average contractor rate in the City of London is £30 per hour, 15 per cent higher than second place Greater London.
There are also more employment opportunities for London-based contractors, with 39 per cent of contractor positions currently advertised either in or around the capital.
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