The bottom has fallen out of the public sector IT jobs market but the emergence of London as a technology hub is providing some ballast, an AIM-listed recruiter says.
Pointing to its latest billings, Rethink Recruitment said the UK capital now generates 41.4% of all new IT jobs, compared with 33.8% before the financial crisis, in June of 2008.
That?s despite London being a key jobs market to the ailing public sector, where IT contracts are much harder to come by, and to the recovering financial services industry, where uncertainty remains.
In contrast to the capital, the rest of the South East is losing market share (albeit marginally), as the region now accounts for only 22.5% of all new IT jobs, compared with 23.8% in June 2008.
?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.
Technology workforces in London, however, specifically IT departments, have been ?relatively insulated? from public or private outfits cutting back, when compared to other business functions.
?Hiring, particularly in insurers and boutique firms, has been quite buoyant,? said Rethink's director Michael Bennett, who even described demand for some financial IT skills as having ?surged?.
Less traditional forces have also helped ensure London retains its status as the dominant IT jobs engine. The Silicon Roundabout area, the recruiter said as an example, is home to an estimated 500 start-up companies. ?
The sheer number of hirers in this confined area, coupled with a dearth of qualified technologists,? sees ?many? of these mainly digital start-ups ?struggling to find? the suitable computer-led skills they need, ?which is putting pressure on rates.?
Mr Bennett continued: ?A long term decline in the number of candidates with IT qualifications coming onto the market?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.?
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