Cryptocurrency Despite constant value fluctuations, bitcoin hype sees vacancies increase at almost ten times the UK average
JOBLIFT CALCULATES WHETHER THE CRYPTOCURRENCY HYPE HAS TRANSLATED INTO A RECRUITMENT BOOST
18th January 2018 - Cryptocurrency is big news across the globe at the moment. From Bitcoin's ever-changing status - be it Bitcoin's biggest daily crash in months this week amidst South Korea's crackdown - to the parody Bitcoin rival, Dogecoin seeing its market value peak at $2 billion last weekend. With this in mind, job search platform Joblift decided to investigate whether the buzz around cryptocurrency has led to a spike in jobs associated with the alternative payment method. Joblift has analysed jobs associated with Bitcoin, Litecoin, Dogecoin, Ethereum, Ripple, and Peercoin in the UK in the last 12 months and can conclude that unlike the unsteady peaks and troughs in valuation, cryptocurrency jobs have seen a huge average monthly increase of 19%.
ALMOST A THIRD OF CRYPTOCURRENCY JOBS RESERVED FOR HIGHLY EDUCATED CANDIDATES
According to Joblift, 2,015 cryptocurrency vacancies have been posted in the UK since January 2017. These positions have made up just 0.02% of the UK's job vacancy market in this period, however, they have increased by 19% each month on average - 9.5 times more than the UK job market as a whole (2% increase). Interestingly, cryptocurrency vacancies stayed active online for an average of 31 days, the same duration as the entire UK job market average. This is surprising considering 31% of the cryptocurrency jobs posted in the last year expected candidates to hold either a Master's or a post-graduate qualification - with these postings increasing at an average of 26% per month, suggesting the complexity and high level of training needed for these roles.
A THIRD OF ALL VACANCIES ARE FOR PROGRAMMERS, AND LONDON IS THE CRYPTOCURRENCY CAPITAL WITH 90% OF ROLES
Programmers are the most sought after professionals in the UK's cryptocurrency job market, accounting for 33% of all job postings in the last 12 months. Making up 13% of vacancies, System Developers and Analysts rank in second place, followed by Communication, Marketing and Public Relation Managers accounting for 4% of all advertisements. Unsurprisingly, London holds dominance when it comes to location of cryptocurrency roles. The UK's financial centre has been the location of 90% of all cryptocurrency roles posted in the last year, no doubt owing to the fact that cryptocurrency's top five employers (Wirex Limited, Blockchain, Broadridge, IBM Business Group, and JW Consulting) all have their UK headquarters in London. Northampton ranks in second place with 2% of all positions being located here, and Cambridge rounds off the top three also holding 2% of vacancies.
BITCOIN HOLDS THE CROWN WITH ALMOST HALF OF ALL VACANCIES BUT DOGECOIN IS YET TO MAKE AN IMPACT ON THE JOB MARKET
Comparing the major forms of cryptocurrency throws an interesting light on which alternative payments can be expected to make the biggest impact this year. Unlike its unpredictable market value, Bitcoin has been a steady employer over the last year. In the last 12 months Bitcoin has reigned supreme with 48% of all vacancies and with an average monthly increase of 20% these vacancies look unlikely to slow down. In comparison, Ethereum ranks as the second most popular cryptocurrency employer, being mentioned in 33% of postings. With less dominance, Ripple is mentioned in 4% of advertisements, and 1% of vacancies state Litecoin in their descriptions. Interestingly, joke currency Dogecoin and the sustainable blockchain technology Peercoin were not mentioned in any job advertisements in the UK in the last year.
Joblift is a job search platform providing candidates with the most intuitive and frictionless experience during the recruiting process. Joblift applies latest machine learning techniques and big data-based algorithms to offer the optimal match between employer and job seeker. Currently active in the US, the UK, Germany, France and the Netherlands, Joblift cooperates with over 4,000 partners to incorporate over 10 million vacancies on our platform. Joblift is a highly energetic and entrepreneurial team led by the experienced founders Lukas Erlebach (CEO), Alexander Rausch (COO) and Malte Widenka (CTO), who most recently held C-Level positions at companies such as Zalando, Amorelie and Frontlineshop.
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Source: Joblift via Globenewswire