New research has shown that job vacancies in the capital have increased by 16.7% since the same time last year.
It is an encouraging statistic given that 2019 was characterised with political and economic uncertainty; Brexit loomed large and with no majority in parliament, no decisions could be made that might at least give businesses clarity, if not confidence.
That should change now, with the election result and subsequent promises laid out in the Queen’s Speech, but either way, it hardly seems to have affected job vacancies when the data provided by Vacancysoft is analysed.
It reveals growth in sectors such as accountancy, tech, data, and AI.
For the accountancy sector, job vacancies rose by 59%, with “aggressive hiring” given as the main reason for this; KPMG hiring has increased by a mammoth 111% year-on-year, which gives a flavour of hiring intentions within the accountancy sector.
In the tech industry, job roles account for 41.8% of all vacancies, while data positions increased by 92% – making this the fastest-rising occupation.
The prevalence of AI is a major reason for such vacancy increases; with implementation of AI by the likes of Amazon who will recruit up to 2,000 people to their London HQ in areas like Data Science and AI, it means many more jobs will become available if this trend becomes more widespread.
Rina Durban, Member Relations Manager at the Association for Professional Staffing Companies (APSCo), commented on the figures: “Despite the political and economic uncertainty which dominated much of 2019, it’s great to see hiring activity flourishing.
“With sharp growth in many sectors – London is set to continue offering stellar opportunities for professionals.
“The fact that the city was once again the leading hub in Europe for VC funding is a promising sign going forward.”
APSCo, through business intelligence specialist Vacancysoft, undertook the research which revealed these findings.