Cost of living crisis driving Tech professionals back into the IT Jobs Market report CV Screen

LONDON - Nov. 8, 2022 - PRLog -- The cost-of-living crisis is driving more IT professionals back into the jobs market report specialist recruiter CV Screen. Their detailed study tracks the number of IT professionals who are actively seeking employment across the leading job boards. The report shows that since April, 45% more candidates have returned to the jobs market to seek new opportunities.

CV Screen's Managing Director Matthew Iveson commented, "we are seeing increasing numbers of candidates returning to the jobs market as a result of the cost-of-living crisis, with a large percentage highlighting the need to increase their salaries to pay for their rising bills."

At the same time, there has been a reduction in the number of IT Jobs being advertised online, with 17% fewer vacancies available compared to the peak seen in February 2022.

Iveson further commented "I believe that the correction in the jobs market that we're currently seeing could well be a positive thing for the economy as it will help to keep wage inflation in check. Earlier in 2022, we were frequently seeing candidates securing salary increases of 20%+ as demand outstripped supply to such a large degree. Quarter two was particularly tricky as we saw candidates with multiple job offers and employers willing to pay over the odds to secure IT talent that was in short supply."

With regard to the outlook for the IT jobs market, Iveson predicts that in 2023, we're likely to see more candidates search for more opportunities. "There is no doubt that as the economy falls into recession that there will be more candidates coming onto the market as many companies will be unable to raise wages. The New Year, New Job saying is likely to be particularly apparent in 2023 as the reality of the crisis begins to bite and candidates seek to increase their salary to offset the rise in costs they're experiencing."

About CV Screen Ltd
Established in January 2000, CV Screen has recruited for over 1500 organisations and has placed over 5,000 candidates with some fantastic organisations such as Oxford University, The FA Premier League, RSPB, and KPMG.

As one of the UK's leading IT Recruitment Agencies (https://www.itrecruitmentagency.co.uk/), we recruit across the UK and pride ourselves on our honest and ethical approach to recruitment.

For further information, please visit https://www.cvscreen.co.uk/ or call us on 0345 200 8170.