IT experts are the most sought after professionals within Greater London, accounting for 28.4% of all vacancies in the 24 month period to May 2017, according to data from the Association of Professional Staffing Companies (ASPCo) and Vacancysoft.
Across the board there was a 10% rise in vacancy volume in the three months to May 2017 compared to the previous three months and 2.6% more than the corresponding period in 2016.
The Marketing and PR sector experienced the biggest growth in terms of number of vacancies and the fastest growth of any of the major professions. There were 5.2% more new jobs than the previous 12 months in the period ending 31 May 2017. Demand came mainly from the Technology, Media & Telecoms sector, which advertised 12.4% more openings for Marketing and PR staff.
Elsewhere, the insurance sector recorded a 22.2% rise in demand compared to the previous 12 months.
Professional services firms announced fewer vacancies over the 12 month period; this led to a dip in the number of accountancy representing a 9.6% decrease in demand. Vacancies within law offices and consulting firms also dipped by 17.1% and 12.9% respectively.
The public sector saw the largest growth in roles with a 5.8% increase over 12 months. The education sector in particular experienced a 19% increase over the year.
The data includes jobs announced by 3,145 employers. Barclays Bank, which saw its profits double in Q1 2017 advertised 125% more vacancies over the 12 month period, compared to the previous 12 months. Other banking groups including Lloyds and RBS, saw falls of 37.3% and 67.1% respectively in their numbers of vacancies.
Ann Swain, chief executive of APSCo commented:
“Greater London continues to be a remarkably diverse employment market with no more than one single employer accounting for more than 2.6% of vacancies.”
“The top 20 companies, such as EY and Sky, continue to account for nearly a quarter of the Greater London figures (23.6%), however, they announced 8.5% fewer openings over the 12 month period. What our statistics also show is that the greatest growth in demand actually came from medium sized companies (101-200 ranked), advertising nearly 10% (9.4%) more vacancies during the year.”