The number of jobs available in London fell by 37% in March when compared to the same period last year, according to the latest Morgan McKinley London Employment Monitor. The Monitor also showed a 44% decrease in professionals seeking jobs in March, year-on-year.

On a month-to-month basis the Monitor recorded a 14% decrease in jobs available in March and a 22% decrease in professionals seeking jobs, for the same period. However, average salaries increased by 23% in March during the same period.

“As businesses across Britain lament the shortage of skilled workers and a post-Brexit rise in staff turnover, those who are currently looking for their next professional opportunity are well positioned to receive considerably higher compensation than they would have a year ago,” Morgan McKinley stated.

Hakan Enver, Managing Director, Morgan McKinley Financial Services, commented, “A shortage in talent translates to better salary negotiating power for job seekers, making now a great time to move.”