Financial job vacancies in London 'on the wane'

18 August 2011

The number of vacancies in London's financial services sector dipped in July, new figures have revealed.

According to recruitment consultant Morgan McKinley Financial Services, such positions fell by ten per cent across the month as a result of companies seeking to reduce worker numbers for fear of uncertain economic recovery strength.

The group said job openings in the UK's capital tumbled to 4,977 in July, having stood at 5,544 one month earlier.

Moreover, this amount had reached 6,048 12 months before.

Andrew Evans, chief operating officer at Morgan McKinley - which operates from 24 offices in ten countries around the world - said: "The decline in financial services job opportunities in July 2011 is unsurprising given recent economic issues - there is currently significant turmoil in financial markets."

The industry figure explained banks in the UK also endured quarter two results that were below expectations, while the summer holiday period is often a time when recruitment slows down.

By Gary Cooper

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