Industry News: Technology Sector
There has been very positive news this year regarding job creation in the Technology sector. As the extracts from the Financial Times article ‘UK technology job creation‘ indicate “Rates of job creation at UK technology companies have outpaced the private sector as a whole for the past four years.”
This is likely to do with the natural refresh cycle of the Tech sector that occurs every 5 years, making the Technology sector a lot more resilient to economic downturns, e.g. that occurred between 2008 and 2013.
The article continues “The number of jobs in the sector now exceeds 1m out of a total of 28m employees across all UK sectors, compared with 915,000 out of 27m in 2010, confirming that technology is a significant employer in Britain… Jobs in the tech sector rose 4.3 per cent year on year in the first half of 2013 compared with 0.9 per cent jobs growth for the private sector as a whole… The report finds that business activity growth at UK tech companies is the fastest since May 2010. It says: “The figures show that UK tech company output rebounded strongly after the global financial crisis . . . and has now expanded throughout much of the past four years.”
To read the full article please click-here.