The PCG recently surveyed the freelance marketplace and discovered that there are currently around 1.4 million contractors in the UK; 41% or 574,000 of them are IT contractors.
Umbrella company contractors working in the banking sector may be distressed to learn that RBS has made across the board cuts of 10% in their IT contractor rates.
Umbrella company IT contractors could find themselves more in demand after Symantec revealed that global cybercrime is costing businesses £71.6 billion a year.
Some umbrella company IT contractors may think that there services will no longer be required if the company they are contracted to switches to cloud computing, but this is not necessarily the case.
After cutting 132,000 jobs in 2010, the public sector is now turning to freelancers to fill the gaps, according to a recent study by PeoplePerHour.com.