The number of jobs available in London fell by 33% in August when compared to a year ago, according to the London Employment Monitor report by recruitment firm Morgan McKinley. At the same time there was an 8% decrease in professionals seeking jobs.

When compared to July, the number of available jobs increased by 10% while the London employment figures on a month-to-month When compared to June’s figures, the number of professionals seeking jobs decreased slightly by 2%. During the same period, salaries increased in London by 22%.

Hakan Enver, Managing Director, Morgan McKinley Financial Services, commented on the month-to-month August figures, stating, “Excluding the traditional January jolt in new jobs, we haven’t seen a double digit increase in jobs since March of 2017. The salary increases are likely the greatest contributor to why we are seeing confidence among job searchers soaring.”

Morgan McKinley noted that the month-on-month increase in new jobs is even more significant coming during a “traditionally sleepy” time of the year for hiring, when most businesses are holding off on releasing new jobs until after the summer holidays are over.