Freelancers slashed their day rates by an average of £90 last quarter in a bid to win work during a cooling jobs market, the UK’s freelance trade body said today.
The Freelancer Confidence Index, a quarterly survey run by self-employed trade body IPSE, found that the average freelance day rate stood at £457 in Q2 2024 – down from £547 in the previous quarter.
Andy Chamberlain, IPSE’s Policy Director, said: “We usually see a seasonal drop in day rates in the second quarter of each year, but this year’s data shows that freelancers have cut their rates more aggressively than usual.
“We expect this is down to the wider cooling of the jobs market, as hirers cut back on recruitment plans in the face of higher interest rates. Freelancers are responding to this by slashing their day rates in the hopes of remaining attractive to hirers with tighter budgets.”
ENDS
Latest self-employed news & opinions
Self-employed women earn £51 less per day than men on average, research shows. But what is driving the gap, and how can we close it?
Qdos CEO Seb Maley reflects on the Post Office's recent IR35 tax bill and encourages contractors to share their views on the legislation in a joint survey with IP...
Self-employed women charge £51 less per day on average than men, the UK's self-employed association said.
