Finance jobs in London declining, Morgan McKinley research suggests

Vacancies for financial jobs in London fell by almost a third in recent months, according to research.

The number of jobs on offer in the sector totalled 1,200 in September, down from 1,719 in July, services firm Morgan McKinley said.

Vacancies were down 11% over the past year as employers become more cautious about hiring staff, the report added.

Mark Astbury, of Morgan McKinley, said: "The continued fall through September is particularly notable.

"August typically sees recruitment activity soften as businesses and candidates take time away from the market, but vacancies failed to rebound as businesses returned after the summer.

"Instead, September ended with vacancies at their lowest level of the quarter, suggesting the slowdown extends beyond the usual seasonal effect.

"London employers are balancing the need to invest and grow against higher employment costs, borrowing costs and uncertainty over the economy, meaning the commercial case for each new hire is coming under greater scrutiny."

By Alan Jones, Press Association Industrial Correspondent

Press Association: Finance

source: PA

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