IT professionals are increasingly moving into freelance roles as rates increase to match demand for contractors, according to a survey by recruitment specialist Robert Walters.

Increased levels of project work have boosted demand for contractors, sparking the rate rises.

And in the financial services sector, freelance pay went up as companies fought for the best talent to support increases in company-wide projects.

A downturn in the rate of permanent hiring is likely for this year, but this will be accompanied by an increased use of contractors during the current economic uncertainty, according to the report.