Yes. Contractors typically get more per hour. It still works out cheaper for the company as they don't have to pay for the benefits, PTO, and that sort of thing. And of course the contractor still has to pay for insurance, covering their own PTO, etc.
Did both in few parts of Europe. Initially its normally better to contract (but you need to have some chops, nobody hires juniors on contract), but not all countries make this easy or even viable. Once you want to settle, if you want to settle, permanent job under normal circumstances offers better overall package.
Maybe not outright amounts, but if you count in things like sickness, holidays, off for kids, social contributions, being treated better among colleagues, and for me personally having much more freedom whenever personal I need to do like bureaucracy (but that may be current circumstance only).
