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City job vacancies have increased by +121% in the first quarter of 2010 to 11,020 roles from 4,970 in the first quarter of 2009, research by financial services recruitment firm Astbury Marsden reveals.
New candidate registrations also saw a sharp rise of +21% in the first quarter of 2010 compared to Q1 2009. Astbury Marsden explains that City workers seem to have restarted their customary post bonus payment review of the jobs market. In 2008 and 2009 the weak jobs market meant that many employees that were dissatisfied with their jobs stayed put.
Mark Cameron, Chief Operating Officer at Astbury Marsden, says "the first quarter is traditionally a popular time for City employees looking to change jobs as many annual bonus payments will now be safely in the employee's bank account."
The latest London Employment Monitor for March 2010, published today by staffing firm Morgan McKinley (part of Premier Group), reveals that the financial services hiring market saw a 21% monthly increase in job opportunities from 5,245 to 6,332 in March 2010, reflecting the continued rise in confidence in the City and in turn the hiring market.
March 2010 also registered an 83% rise in new job vacancies compared to March 2009 when 3,465 new job opportunities were recorded and hiring in the financial services market was still feeling the effects of the credit crunch.
March 10 also saw a moderate 2.4% monthly increase from 8,740 to 8,950 of financial services professionals looking for new positions in the City. Compared to the same month of the previous year when job hunting slowed alongside job availability, there was a 22% increase from 7,330 to 8,950 in those looking for new roles.
Andrew Evans, Managing Director of Morgan McKinley's financial services division, commented "March 2010 was a very healthy month for City hiring, with job volumes reflecting the increased confidence and momentum in the financial services market. Real improvements in the hiring market started to show towards the end of 2009 and recruitment has accelerated further in the first quarter of 2010."