Brexit, for obvious reasons, is still the center of conversation around tech jobs in the UK this month. Meanwhile, foreign investments and the demand for emerging tech skills (specifically in London), are another popular topic of conversation and show the long term promise for the UK tech sector.
August Industry News
As the prolonged battle over Brexit continues, IT job postings are declining. According to CompTIA, job ads were down 13% year-on-year. Though job postings have fallen, over 50,000 ads were for software developers and programmers. The largest job advertisers include Amazon, British Sky Broadcasting Group, GCI Group, the National Health Service and Square One Group. Despite the decline in job ads, CompTIA revealed that the total IT jobs market is still estimated to grow by 14,000 this year to 1.3 million posts.
The UK tech space has attracted $6.7 billion in the first seven months of 2019, which is significantly higher than all of 2018. A good chunk of 2019’s investments came from the US and Asia due to investments from Amazon and SoftBank, according to Tech Nation. Additionally, Tech Nation showcased that the top 30 companies backed by foreign investment have created more than 5,000 jobs in the UK. Though uncertainty remains given Brexit, these foreign investments have allowed for an increase in job creation.
As the demand for high tech skills in field like AI continues to book in big cities like London, it is increasing the divide between different areas of Britain. Accenture reports that, of the 422,000 professionals with these emerging tech skills such as AI, data analytics and quantum computing, 37% are based in London. This growth is expected to continue with 63,000 jobs being advertised in the capital city. With London becoming the primary location for these tech professionals, the wealth and skills gap between the South East and the rest of the country continues to widen. However, head of Accenture Technology in the UK & Ireland, Zahra Bahrololoumi, explains how this gap doesn’t have to continue, and highlights how many companies and regions are working to better attract and retain top talent.