London’s expansion leaves city’s firms struggling to find workers

Tim Wallace
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FIRMS in the capital have more difficulty than those anywhere else in the country filling vacancies, according to a study out today from jobs site Indeed.

In the south east, including London, 28 per cent of vacancies are left unfilled after three months, compared with a UK-wide average of 23 per cent.

Skilled software engineers are the hardest to find for firms in London, while nationally construction workers are in highest demand, relative to the supply of staff.

Meanwhile a study from recruiters Michael Page found 58 per cent of finance staff in London expect a pay rise this year.

Its study of 5,000 workers found 45 per cent believe growth in their workforce is “imminent,” with 20 per cent expecting “significant” headcount growth this year.

“The fear of redundancy and the desire to find more stable employers has waned considerably over the last three years and has fallen again in 2014,” said Michael Page’s Andrew Breach.

“Although the big investment banks (IBs) are likely to continue to focus on managing their costs bases, the rest of the market, especially the mid tier and boutique businesses outside the IB arena, show more potential for growth in 2015.”