IT contractors may be interested to hear that according to latest findings, London has become the main area for the IT jobs market to thrive, despite the claims that the ‘bottom has fallen out of the public sector’ for this particular industry.
The business and technology recruitment consultancy, ReThink Recruitment, has revealed that over two in five (41.4%) of new IT jobs are now found in the UK capital, which is a rise compared with just 33.8 per cent, before the economic crisis four years ago.
Measured up against the capital, there has been a slight decline in market share for the South East region, dropping from 23.8 per cent in 2008 to 22.5 percent this year.
However ReThink Recruitment has found that permanent workers and contractors in the technology industry in London, specifically IT departments, have been ‘relatively insulated’ from public or private outfits cutting back, when compared to other business functions.
“The bottom has fallen out of the public sector…[leaving] some UK regions, which are more dependent on the public sector, struggling to create new technology jobs,” Rethink said of its findings.
“Hiring, particularly in insurers and boutique firms, has been quite buoyant,” said Rethink’s director Michael Bennett, however, he also points out that there are some pressures too: “There has been a long term decline in the number of candidates with IT qualifications coming onto the market. This has intensified poaching and bidding wars for talent among tech start-ups. The problem start-ups face is that larger organisations can usually outbid them, which means they can find themselves constantly fighting for skills.”