For I.T. employees working in the UK or US financial services sector, the economic downturn has meant more job losses and a slow-down in recruiting I.T. workers.

For those involved in web development or similar industries, looking to areas other than the financial services sector may be the best move in current conditions.

According to the Financial Times: “The financial crisis is starting to take its toll on the jobs market for IT staff, with investment banks cutting back on recruitment as the credit crunch forces them to reduce costs.”

The number of new I.T. jobs within the investment banking sector fell by 18 percent in the first three months of last year, compared to the same time period in 2006.

This doesn’t mean there aren’t any I.T. jobs out-there, but the financial services sector is certainly tightening the belt after torrid economic conditions felt since the final-quarter of 2007.

Back on May 23rd, Finance Exchange reported on tough times for jobs in general within the financial services sector.

Finding web development and I.T. related jobs is made fairly easy with a variety of online job search sites such as monster.co.uk, reed.co.uk and careers & jobs.eu.

Finding uk jobs within the web development sector is far quicker when potential job seeker actively search on a vareity of job sites for the best job in their location. If you find you are seeking jobs that you are under-qualified for, then consider undertaking some further training, reed have a page on Certified I.T. qualifications that will get you started.

Update 12/06/08: Research carried out by the Associated Chambers of Commerce and Industry (ASSOCHAM) shows that finance sector jobs outperformed I.T. jobs during the first-quarter of 2008. – MyIris.com