EMSI Contributes to UK Tech City Report

Tony Roy, President of CareerBuilder EMEA – 6 December 2013

In remarks this morning to mark the celebration of the Tech City programme’s third anniversary, the Prime Minister highlighted just how successful the venture has been, and left little doubt that both the industry and government intend Tech City to be one of the world’s greatest technology hubs.

Much of the data in the Tech City report, Tech Powers the London Economy, points to continued growth in the sector and highlights the importance of sustained investment if the industry is to grow. As the data partner of the report, CareerBuilder and its labour market data arm Economic Modeling Specialists Intl (EMSI) estimate that since the launch of the initiative 5,762 new jobs were created in the Tech/Digital/Media industry. Moving forward, we estimate the creation of 5,762 new jobs in the Tech/Digital/Media industry could help generate an additional 6,684 jobs of these industries in Greater London. The message is clear, when you create high-skill tech jobs, it will help to create other types of jobs in areas like retail and healthcare to support the industry - and ultimately, foster a stronger local economy.

While this is an exciting time, there is also a challenge that accompanies this momentum of growth: the gap between the demand for and the supply of qualified technology workers.

According to a 2013 CareerBuilder report, 23% of UK companies reported they had positions they couldn’t fill, primarily in engineering and information technology roles. Many of these companies cited lower revenue, lower productivity and the inability to grow their business as consequences of extended vacancies.

When you consider some of the most in-demand roles today - software professionals, IT strategy and planning professionals and IT user support technicians – all are expected to grow significantly by 2016, but already have a shortage of workers.

The figures reinforce the need to ignite passion for careers in the Tech/Digital/Media sector, and re-skill workers for future opportunities. As the sector continues to grow, I believe the skills gap should be viewed as an opportunity – a chance to bring together government, industry and educational institutions to ensure the next generation is equipped with the right talent and competencies based on a company’s actual needs, in order to boost employment, and support economic growth.

About CareerBuilder and EMSI Employment data in this report was provided by CareerBuilder in conjunction with Economic Modeling Specialists Intl. (EMSI), a CareerBuilder company specializing in labor market analysis. As the global leader in human capital solutions, CareerBuilder works with the world’s top employers, providing everything from labor market intelligence to talent management software and other recruitment solutions. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune Company and The McClatchy Company (NYSE:MNI), CareerBuilder and its subsidiaries operate in the United States, Europe, South America, Canada and Asia. For more information, visit www.careerbuilder.co.uk

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