Financial institutions are still hiring IT staff despite economic uncertainty, according to research from recruitment group IT Jobs in the City.

Adverts for IT positions in the commodities markets have increased by 50 per cent since October 2007 and demand for quantitative analysts has grown.

And over the past three months there has been minimal change in demand for positions in areas such as middle office and system support, as well as for IT workers with skills in Oracle and SAS.

“Despite the gloom in the City, we are still seeing demand for IT workers," said Adam Stokes, operations manager.

"Providing IT support within risk management will be critical over the coming months. IT workers in the City are seen as a valuable resource, and we do not expect that to change.”