According to the latest Morgan McKinley London Employment Monitor, December saw a 16% year-on-year decrease in the number of jobs available.

The report also showed a 7% decrease in the number of professionals seeking jobs in December, compared to the same period last year. On a month-to-month basis, the number of professionals seeking jobs in London fell by 46%, while the number of jobs available compared to the previous month fell by 27%. The reports states that due to a year marked by political upheaval and economic volatility, a record amount of City professionals put off job seeking until 2017.

“After months of uncertainty, City professionals are jaded. The good news is, when they’re ready to start looking in the new year, they’re looking at a growth in jobs”, Hakan Enver, Operations Director, Morgan McKinley Financial Services, said. “December is always a quiet jobs month, so a drop in jobs month-on-month is to be expected”

Morgan McKinley states that since the year-on-year data shows that the year is continuing to outperform 2015. “We’re going into 2017 with an improved jobs landscape and expect to see a spike in hiring”, Enver said. “London thrived despite the political turmoil and continues to be invaluable to the British economy”.