Brexit vote doesn't affect UK jobs market
The results of the Brexit vote don’t seem to have an immediate effect on the British job market, especially in the IT industry, according to a Morgan McKinley report. The global professional services recruiter also says that it still might be too early for a definitive conclusion.
IT jobs in London were off to a slow start at the beginning of 2016, but that’s usually how things go in January and February. Interestingly enough, the slow period moved into the second quarter of 2016 in most sectors, and it wasn’t before the very end of the quarter that we saw a market upturn. June was the highest month so far in terms of job volume this year.
Financial services was the quietest sector in Q1 and Q2, but "contributed greatly" to the peak spotted in June. Cyber-security positions, as well as solution architecture, are the in-demand positions. Project management and business analyst roles are also in high volume.
In the commerce and industry sector, things have been pretty quiet, with no peaks spotted, while the public sector continued to be busy. User experience, digital business analyst and project managers are the most popular positions.
"For quarter three of 2016, we are expecting more of the same; a fairly buoyant IT contract market with job numbers remaining steady", said Angela Lewis, team leader, IT, Morgan McKinley. "What will happen as the year progresses and as we move into quarter four is less easy to predict and will undoubtedly unfold as Theresa May’s new government and in particular David Davis form their strategy and action plan for exiting the European Union".
"The swift replacement of David Cameron and new appointments in the Cabinet, without the need for a long drawn out Tory leadership battle, is likely to be seen as a positive factor by our clients. Hopefully we will experience increased levels of confidence that the Brexit process can be managed effectively, which in turn will help to reduce any negative impact from the volatility on the job market in London and the UK in general".
Published under license from ITProPortal.com, a Net Communities Ltd Publication. All rights reserved.
Photo Credit: Krasimira Nevenova/Shutterstock