Tech sector leads London jobs boom

Professional employment opportunities in London show no signs of decreasing despite the uncertainties surrounding Brexit, according to the latest data.

London skyline, including the Shard, illustrates an article about technology
A report from the Association of Professional Staffing Companies (APSCo), based on research by jobs market analysts Vacancysoft, vacancies across the city have increased by 23% on this time last year.

London demand for tech and HR professionals

"While job openings in banking remain flat due to a number of financial services firms relocating outside of London, other sectors are booming," said APSCo."The technology sector is the largest and fastest growing, recording a significant 44% increase in hiring activity year-on-year. Given this, it’s no surprise that demand for IT professionals increased by 25% year-on-year, forming 37% of all advertised positions."Growth in demand was also significant for HR professionals, where placements increased by a third, while vacancies for B2B business development and sales professionals rose by 37 per cent and accounted for six per cent of all professional vacancies."Technology, media & telecoms (TMT) meanwhile saw a 32% rise in demand for talent. As BBC, Sky and Facebook all hold positions in the top 20 companies for hiring in London, this is unsurprising," added APSCo.

London is "withstanding" Brexit

There was also a 20% rise in accounting and consulting positions. "Similar to TMT, leading accounting & consulting firms populate the top 20 list of companies driving recruitment in the city. KPMG LLP holds the top position, with hiring increasing by 76% year-on-year in Q1 2019. EY and Deloitte LLP also make the list," said the report.Rina Durban, membership relations manager at APSCo said: “It’s fantastic to see that the capital is withstanding Brexit pressure and that the job market is still strong."London’s rich talent pool, particularly in the technology sector continues to draw in leading companies to encourage market growth. Demand in this area is now particularly high as London has successfully pivoted into becoming one of the leading global hubs for technology.“After Silicon Valley, London has taken second place in the world for tech development and this is being reflected in venture capital and private equity funding flooding the city.“It’s also no surprise that as companies expand their headcount and capabilities, B2B business development & sales professionals correspondingly increase in demand.”Subscribe to Relocate Extra, our monthly newsletter, to get all the latest international assignments and global mobility news.
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