London job growth has increased despite Brexit uncertainty
London job growth has increased despite Brexit uncertainty

London job growth has increased despite Brexit uncertainty

New research from the Association of Professional Staffing Companies (APSCo) has revealed job growth in London is thriving, despite ongoing Brexit uncertainties.

The data found that employment in London is, contrary to opinion, showing no signs of slowing up, despite the Brexit deadline of 31 October looming.

Statistics from APSCo found that vacancies across London increased by almost a quarter (23%) year-on-year – based on research from Vacancysoft.

The data shows that a thriving job market isn’t the case across all sectors; for example, banking vacancies remain flat, in part due to the relocation of financial services firms outside of London.

That aside, there are encouraging signs, with the technology sector the largest and fastest growing, enjoying a 44% increase in hiring activity.

Data from APSCo shows, perhaps unsurprisingly in the context of technology interest, that demand for professionals in the IT industry has increased by 25% year-on-year too, making up 37% of all advertised positions.

Elsewhere, there is significant demand for HR professionals, placements for whom increased by a third, while business to business development & sales professionals positions rose by 37%.

Unsurprisingly, technology, media & telecoms (TMT) positions enjoyed a rise in 32% for talent – something that is expected given that BBC, Sky and Facebook all hold positions in the top 20 companies for hiring in the capital.

Rina Durban, Membership Relations Manager at APSo, labelled the data as “fantastic,” in light of the doom and gloom surrounding Brexit.

“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.”

Accounting & consulting positions also enjoyed a “notable” rise of 20%.

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