IT jobs could benefit from credit crunch
02/10/2007(17:07)
Despite fears that the finance sector could be badly affected by the credit crunch experienced recently, IT jobs in the industry look set to see more investment.
A report by the Confederation of British Industry (CBI) and PricewaterhouseCoopers has discovered that the financial sector may struggle in coming months due to harsher conditions.
Ian McCafferty, CBI chief economic advisor, suggested that tough trading conditions will not affect IT recruitment in the finance sector.
"They are however sticking with their plans to hire more staff and increase investment in training, IT and marketing," he remarked.
Mr McCafferty added that many financial companies do not expect the effects of the current turmoil to be long-term.
The report found that growth in the sector was strong from June, which went against expectations of a cool-off during the summer period.
Working with legislators, policymakers and the government, the CBI aims to ensure the UK is competing healthily in business.
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