Hiring of IT contractors surged in June, as fears over a double-dip recession began to dissipate, according to a new report.

Employment screening firm Powerchex has found that job offers for IT contractors rose by a massive 320 per cent from May to June.

This is a positive sign that investment banks are powering ahead with planned IT development projects in anticipation of a surge in growth, Powerchex claims.

"The financial industry was preserving liquidity and waiting to see what changes would occur as a result of the general election and possibly tighter regulations in the new budget," explained managing director Alexandra Kelly.

She went on to add that these figures correlate with national wider employment statistics which indicate the economy is getting back on track.

The Office for National Statistics announced recently that unemployment numbers had fallen by 34,000 in the three months to May, to 2.47 million people.