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UK – London jobs fall -18%

12 February 2013

The number of new professional jobs in London fell by -18% in January when compared to a year ago, according to the latest employment monitor by Morgan McKinley. Month-on-month, job figures rose by +74%.

“Looking back at 2012, job availability fell to a real low across the City, and the 2,331 jobs in the market in January 2013 remains relatively low compared to 2010 and 2011. This lowered level of job availability underlines research from the CEBR which forecasts that London is set to lose 13,000 financial services jobs this year,” said Hakan Enver from Morgan McKinley.

The average salary change for those securing new roles last month increased by +24%. This level of increase was only seen a couple of times last year.

Morgan McKinley expects that job seeker numbers will remain at a high level this year. Some pockets of the market will continue to hire in the next couple of months, particularly across governance, operations, finance, and IT where large-scale projects are now underway.

“However, there is less visibility over how economic issues for financial institutions may play out. It’s very possible we may continue to see a fluctuating hiring market throughout the first half of this year,” said Mr Enver. 

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