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The latest London Employment Monitor published by recruitment firm Morgan McKinley (part of Premier Group) reveals that the financial services hiring market in London saw a second month of growth in February 2010 with a 13% month-on-month rise in job numbers from 4,646 to 5,254 in the first full working month of the year. Compared to the same month last year, there was a 67% increase in job numbers from 3,150 to 5,254 in February 2010. This increase in job availability follows the pattern of growth that began in Q2 2009 and has continued into 2010.
February 2010 also saw a rise in professionals looking for new job opportunities with an increase of 29% from 6,760 to 8,740 month-on-month. There was also a 29% increase from February 09 to February 10 reflecting financial services professionalsâ€™ increased appetite to enter the jobs market.
Andrew Evans, Managing Director of Morgan McKinley's financial services division commented "February's data is particularly significant as it is the first full working month since November 2009 and therefore gives us a more accurate picture as to the current health of the financial services jobs market. There is a continued upward trend in job numbers, showing a similar sentiment to other economic indicators."
"The 13% rise in available job opportunities in February 10 is relatively modest as anticipated, underlining that we are likely to see a gradual improvement in the hiring market over the year rather than a strong rebound. However, new job vacancies were up 67% on February 09 figures, a similar rise to January 10 versus January 09."
"The number of financial services professionals looking for new opportunities has risen, and we are seeing a greater appetite to consider a job move from professionals who are currently in work. Our latest survey highlights career development as the reason that most people would move jobs, ahead of a better salary or bonus."