Slump in London financial services jobs market

June saw a massive fall in the number of financial services job vacancies in London - down 33% compared to May and 53% down on the same time last year.

Morgan McKinley Financial Services' London Employment Monitor shows the number of jobs available in June across the city's financial services sector, falling from 3,915 to 2,630 - the lowest number of vacancies in the City's jobs market since December 10. Compared to the same time last year, the number of positions has dropped from 5,544 to 2,630.

Over the same period, the number of professionals entering the jobs market declined by 3% from 6,419 in May to 6,251 in June.

Salaries remained relatively stable, with a 1% drop month-on-month. Compared to the same time last year this is a 4% increase to ?53,976. It was also just above the monthly average salary for the past 12 year, which was ?52,156.

"With recent economic indicators around the globe turning negative, a drop in the number of job vacancies being released across the City in June 12 is unsurprising. The scale of drop however, at 33% is more of a surprise," said Andrew Evans, chief operations officer at Morgan McKinley. "The relative economic stability we saw in Q1 led to a short period of increased job opportunities between March and May - this recent jobs decline is clearly a reality check."

Evans said that firms are also taking longer to recruit. "Some roles inevitably require an investment of time to find the right person, but delays of several weeks, sometimes into months is more characteristic of the current hiring market for non-business critical roles," he said.

Regulatory and corporate governance roles remain a relatively bright spot as are project management/ business analyst roles on the contract side. "Banks and asset management houses continue to prioritise these requirements and are hiring accordingly," said Evans.

Source: http://www.bankingtech.com/bankingtech/article.do?articleid=20000226845&src=rss

giuliana and bill nflx jennifer hudson chicago blackhawks bill rancic dick clark elie wiesel