According to this report, the drastic dip of mid-2009 was a blip and further recovery will come from the financial sector. After Q2 2009 saw a dizzying fall in rates (a drop of 12% after months of gentle decline) and Q3 of the same year witnessed a sudden surge (rising 18%), the last two quarters offer less drama and more reasons for cautious optimism.
Over the first three months of 2010, the average rate across the ten most commonly advertised IT contractor roles stayed constant at £28.45, a barely noticeable change of less than 1% from the £28.28 of Q4 2009. The biggest winners this quarter are Java developers, who have gone from an average of £36.25 per hour to £40, whilst C# developers saw a similar rise, nudging up from £30 per hour to £33.
February figures from screening firm Powerchex suggest a recent boon for techies in the City, with a rise of 57% in the number of contract job offers made. The idea of the City as salvation seems to be borne out by the locations of the biggest rate rises. According to figures from itjobswatch.co.uk, which analyses more than 100,000 advertised IT roles, rates in finance roles for IT contractors in the City have risen more than 8% on this time last year and there has been a 5% surge in the last three months alone. More broadly, IT roles in the City account for more than 10% of all advertised contract roles.