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IT growth outside London

24 Oct 2008

IT growth outside London Despite the impact of the credit crunch on graduate IT jobs in London, computing jobs outside the capital have not been so adversely affected, it has been claimed.

The trend has developed as a result of large financial institutions, many of which are based in the City, putting a freeze on IT recruitment, according to ReThink.

Financial services firms used to drive IT recruitment accounting for 66 per cent of job creation two years ago, a study by the firm reveals.

However the sector only accounts for 58 per cent of IT jobs and areas less populated by financial institutions, such as the south-west, north-west and the Midlands, are less affected from the current banking crisis.

Jon Butterfield, a director at ReThink, said: "Organisations may be reappraising IT spending, but the first casualty of cost-constrained IT budgets is often spending with vendors."

However, Bernie Potton, managing director of SQ Computer Personnel, said: "In [some areas], such as compliance and risk management, they are boosting IT staff numbers."

Mr Potton disagreed with the ReThink study claiming there has not been a downturn in graduate IT jobs in the capital yet.

According to the Wall Street Journal, turmoil in the financial markets has battered London's status as a financial centre.

To find and apply for the latest graduate jobs in London see our dedicated London graduate jobs section.

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