Mid-Year Turnaround:
The report highlights a mid-year turnaround in London's tech job market, overcoming challenges such as the Silicon Valley Bank collapse and major tech company layoffs. Despite significant reductions in April, with tech job roles plummeting by 50.4% and 37% in tech and non-tech firms, respectively, signs of recovery emerge.Skillsets in Demand:
Software developers and engineers witness a return to pre-pandemic job creation levels, constituting 28% of all advertised London tech roles. Tech management and infrastructure roles also gain prominence, making up 23% and 14% of advertised positions, respectively.Sectors that Continue to Hire:
Not-for-profits and industrials & engineering sectors surpass 2022 hiring volumes, with increases of 72% and 17%, respectively. Public sector firms respond to change, securing budgets for tech hiring. The banking and financial services sector invests in tech functions, contributing 28.8% of new London roles. In 2022, NatWest Markets and Lloyds witness significant increases of 72.5% and 48.4%, respectively.Ben Litvinoff concludes, "The financial industry continues its digital transformation, driving exciting projects. There's no strong evidence that these roles are moving away from the capital, indicating a promising hiring landscape ahead."
