The dramatic increase in recruitment activity, in what is traditionally a quiet period, has been driven by two main factors.
Firstly, there has been a 35% increase in candidates who are making themselves available for recruitment as a result of a desire to make a fresh start after the millennium.
Secondly, with the majority of Y2K projects and systems upgrades now completed, new projects that were previously sidelined are in the planning stages to be executed in the first quarter of next year.
As a result there is an unprecedented increase in both the supply and demand of good candidates.
Katie Davison, director of FSS Financial, a financial recruitment specialist, said: 'We were expecting the last quarter of 1999 to be particularly quiet in the recruitment market, but in fact we are finding the opposite is true. Under normal circumstances our market tends to be very candidate driven, with a shortage of good professionals to place with blue chip clients.
'This situation has been turned on its head by the 'millennium factor' with a substantial increase in the amount of candidates making themselves available so that the year 2000 represents a fresh start for their career as well.'
'This sudden increase in the availability of quality clients, combined with a desire by companies to kick-start a whole range of projects which had previously been delayed by Y2K, has led to an amazing surge in the job market.'
The research indicated that there is a 27% increase in new projects being implemented by blue chip companies compared to the same time last year. The biggest increase in the availability of candidates was amongst part qualified accountants (51%) whilst there was a 24% increase in experienced candidates assessing their next career move.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago