According to new figures from Tech Nation, the huge growth of the UK’s tech and IT economy accounts for 40% of the UK’s economic growth between 2012 and 2015, making it second only to the property sector.
The “flat white economy”, so called after the popular coffee which includes media, internet and creative businesses as well as digital design and development, data management and analytics grew by 280% between 2011 and 2014 and now represents 1.56 million jobs at an average salary of £50,000.
Bond Williams Professional Recruitment has also seen a similar pattern of growth reflected by job applications for roles within the IT industry with a 22% rise in applications in 2016 compared to the same period in 2015. Robert Bond, director at Bond Williams said:
“It couldn’t be a better time to find a new role within IT, we have seen a 22% rise in application numbers (per vacancy) since this time last year. We continually keep track of industry trends to help us prepare for the changes that lie ahead in the technology job market and it’s exciting to see such growth in the industry which we predict is only set to continue”.
With application numbers on the rise the industry should be well placed to face the challenge of sourcing enough skilled candidates to fill the roles as it continues to expand; the Commons Science and Technology Committee predicts up to 745,000 new digital jobs will need to be filled by 2017.
Britain’s leading job board, Jobsite have also seen an 18% rise in applications for IT jobs between January and May 2016 compared to the same period in 2015, suggesting a growing candidate pool which is also positive news for the quickly expanding digital jobs market.
This new data follows on from The Telegraph’s article in February 2016, again based on research conducted by Tech Nation, which highlighted that London has been overthrown from its place at the hub of the industry by Bournemouth. 74% of the UK’s digital firms are now based outside of London with Bournemouth, Liverpool and Brighton emerging as the industry’s runaway leaders.