JOBLIFT STUDIES THE UK START-UP JOB MARKET’S GROWTH POST-BREXIT
Berlin/Hamburg 6 June 2017 – The future growth of UK start-ups has been a contentious topic as of recent months. With the UK’s decision to leave the European Union, British start-ups will lose access to the European Investment Fund which has been vital in ensuring the UK’s start-up boom. However, Chancellor Philip Hammond has reaffirmed the pledge made by the UK government to support start-ups post-Brexit, going some way to reassure businesses. Job meta-search engine Joblift has analysed the UK’s start-up job market and compared the growth in the UK with its European counterpart Germany. Furthermore, Joblift has investigated the UK’s start-up landscape and has found that Manchester beats London in terms of start-up vacancy growth.
THE UK’S START-UP JOB MARKET HAS INCREASED BY 1% ON AVERAGE AND MANCHESTER OVERTAKES LONDON WITH AN AVERAGE GROWTH OF 7%
Overall, the UK’s start-up job market has seen an average monthly increase of 1% in the last 12 months, which is on par with the 1% increase in the UK’s job market as a whole. According to Joblift, almost 90,000 jobs in start-ups have been posted since last July, with London housing 51% of all start-up postings. Despite London hosting 45,761 start-up vacancies in the last year, Manchester – the city which comes in second position with 2,178 vacancies – has seen a substantial growth of 7% in postings, compared to London’s 3%. The Information and Communication Technology (ICT) sector advertises the most start-up vacancies with 7,845 postings in the last year. This sector is still increasing rapidly, and has seen an average monthly increase in vacancies of 4%. The highest average increase is seen in Insurance and Finance, with a 8% average monthly growth, despite only posting 1,333 jobs in the last year – this is no doubt reflective of the increase in FinTech vacancies.
GERMANY SHOWS THREE TIMES MORE MONTHLY GROWTH IN START-UP JOBS THAN THE UK
According to Joblift’s studies, Germany has advertised just over 75,000 start-up jobs in the last year and seen an average monthly increase of 3% in vacancies – three times more than the UK’s 1%. Germany’s start-up job market is also increasing faster than the German job market as a whole which has seen an average monthly increase of 2%, highlighting the start-up boost happening in the UK’s European rival. Although, like the UK, Germany’s largest start-up sector is ICT with 18,870 postings, but, the largest difference in sector growth is seen in Legal, Human Resources and Social Services. Start-up vacancies in this sector have seen an average increase of 9% in Germany, 9 times more than the UK’s 1% growth. Similarly, start-up jobs in the Management, Policy and Governance sector have increased by three times as much in Germany as in the UK with Germany seeing a 9% increase compared to 3% in the UK. Insurance and Finance start-up roles have seen an average increase of 4% in Germany, meaning that in this sector the UK has twice as much growth, with an average 8% increase.
LONDON AND MANCHESTER HAVE FIVE TIMES MORE START-UP VACANCY GROWTH THAN COMPETITORS BERLIN AND MUNICH
Joblift also analysed the top two start-up cities in both countries; London and Manchester in the UK, and Berlin and Munich in Germany. Despite Germany’s overall start-up increase, when looking into the top start-up hubs in these countries, studies show that London and Manchester are still ahead of their German counterparts, with five times more combined growth than Berlin and Munich. Combined, the two UK cities have increased on average by 5% compared to Berlin and Munich’s combined average increase of 1%. Looking at the capital cities alone, London has seen an average increase of 3%, three times more than Berlin’s 1%. The British capital also houses twice as many start-up jobs as Berlin with 45,761 vacancies compared to 21,485 in the German city.
About Joblift
Joblift is meta search engine for currently more than 1,000,000 jobs from over 100 partner job boards. Joblift’s customised search filters and email notifications allow users to personalise their search criteria. The company was founded in 2015 by Lukas Erlebach and Malte Widenka. At the two locations in Hamburg and Berlin, Joblift currently employs a team of around 40 employees.