According to Hudson's research, 69 percent of employers claim they are not affected by the economic downturn; however 42 percent said they continued to find sourcing candidates with appropriate skills difficult.

Hudson's research also suggests there is currently a shortage of software developers and business analysts in the marketplace, with an over-abundance of project managers and SAP professionals.

Both recruiters also spoke of the trend for IT contractors to seek permanent employment in this time of financial uncertainty.

"Some projects are being cancelled and some are on hold, in particular projects that were heavily reliant on the contractor workforce," said Blandford. "So there potentially will be increased number of contractors coming into the employment pool."

In the US this week, Google acknowledged plans to "significantly" reduce the number of contractors it uses, according to a report in the Wall Street Journal.