Feeds

London takes lion's share of new IT jobs

Bailed out banks still hiring

Providing a secure and efficient Helpdesk

Since the start of the recession London and the South East of England have created close to two thirds (64 per cent) of all new IT jobs in Blighty, up from 58 per cent before the economy dipped.

According to research carried out by ReThink Recruitment, the region shows that it is "bouncing back strongly from the recession" despite the fact that many predicted that London and the South East would suffer a huge blow because of the number of IT jobs in the banking sector.

“London has a high concentration of financial services firms, which are heavy users of IT skills. Many of them responded to the downturn by cutting their IT departments to the bone," said ReThink Recruitment director Michael Bennett.

"As businesses levels have picked up, many have found themselves understaffed and have had to replace a lot of the skills that were shed during the recession.”

He added that the financial downturn led to more investment in compliance and risk management systems, particularly in the banking sector. "We have seen a substantial increase in demand for candidates skilled in these areas,” he said.

“The wave of mergers between financial institutions brought about by the credit crunch has fuelled demand for IT candidates in London and the South East to handle post M&A integration of banking IT systems.”

Bennett said the public sector had taken a hit during the recession by pointing out that budgets had been squeezed.

"Regions outside London and the South East tend to be much more reliant on the public sector and with hiring freezes now implemented this may stifle the creation of IT jobs,” he said.

The only other UK region to see a jump in IT recruitment since the recession started in June 2008 was Yorkshire and Humberside, despite several local high street banks laying people off in the area.

The region didn't just concentrate its IT efforts on banking, however. It also invested heavily in ecommerce, had Siemens set up home there and benefited from retailers shifting parts of their biz online.

Yorkshire and Humberside claimed 5.3 per cent of total new jobs in June 2008 compared to 6.2 per cent last month. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.