London saw a decrease in the number of jobs available in January when compared to the previous year, according to the latest Morgan McKinley London Employment Monitor.

In the same month, the number of professionals seeking jobs in London also fell by 27%, year-on-year.

On the yearly figures, Hakan Enver, Operations Director, Morgan McKinley Financial Services, commented, “Professionals looking for jobs are now half of what they were in the January preceding Brexit. It’s startling to see this figure continue its post-Brexit free fall so many months after the referendum.”

“With Brexit anxiety being the new normal, businesses are more cautious about hiring than they have been since the 2008 financial crisis,” the monitor stated.

The monitor’s month-to-month figures showed a different picture as the number of jobs available increased by 84% in January, while the number of professionals seeking jobs grew by 89%.

"Typically we see a more aggressive bounce back in January. However, this year we witnessed fewer jobs come to market, volumes that have not been seen since 2010,” Enver said. “Some professionals are likely to be holding off on searching for new jobs until the conclusion of bonus season, but the effect is expected to be marginal.”

Enver also stated, "We're seeing business investments in entry level talent decrease, meaning five years from now there's going to be a critical shortage of qualified mid-level professionals in the city.”