The number of jobs available in London fell by 41% in July compared to a year ago, according to the London Employment Monitor report by recruitment firm Morgan McKinley. London also saw a 30% decrease in professionals seeking jobs year over year.

When compared to June’s figures, the London Employment Monitor showed a slightly different picture as there was a 21% increase in professionals seeking jobs, month-on-month. However, the Monitor also reported a 16% decrease in jobs available in July, when compared to June. Furthermore, there was a 17% increase in salaries in July, when compared to June.

July is the second consecutive month of robust activity among professionals, according to Morgan McKinley.

“The enthusiasm is fuelled by the fact that financial services is among the few industries where professionals are seeing significant income gains,” the Monitor said.

"The conditions for maximising earnings are ideal right now. If you're highly qualified and work in financial services, this is the time to make the leap to a new job", Hakan Enver, Managing Director, Morgan McKinley Financial Services, said.

Enver also commented on the potential impact that the UK leaving EU has on EU nationals’ ability to work and reside in the UK. “It’s a big world out there, and the city is focused on recruiting the best to fill the skills gap, irrespective of nationality. Whatever the outcome of Brexit, there will be opportunities to attract professionals from wider afield”, Enver said.