Feeds

Recession will destroy 40,000 UK IT services jobs

They won't come back till 2013

Internet Security Threat Report 2014

Just under 40,000 UK IT services jobs are expected to disappear by 2010, although then the sector will slowly begin to recover.

In 2008 there were 559,000 people employed in IT services - this is expected to fall to 542,000 this year, 522,000 in 2010 before rising to 528,000 in 2011. Not until 2013, when there should be 573,000 people employed in IT services, will numbers hit the highs of 2008.

The figures, from the centre for economics and business research, showed the business services sector accounted for five per cent of UK GDP and a third of all new jobs created since 1997. Overall there will be 311,000 fewer business service jobs in 2013 than there were in 2008.

Worst performing in the sector is advertising, which was hit early - in 2008 revenue fell 3.9 per cent as recruitment and display advertising dipped.

The impact of falling public finances should not be forgotten - the report reminds us it is one of the biggest consumers of business services.

Ben Read, a managing economist at cebr, said: "Steep drops in business investment, the collapse of the property market and construction industry, upcoming cuts in public sector spending as well as continued difficulty for firms to find capital imply difficult times ahead for this sector."

The press release and additional figures are available for download from here. ®

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.