Financial services jobs grow at fastest pace since 2007

5 July 2011 9:15 am | By Natalie Holt

The number of people working in financial services has risen at the fastest rate since the financial crisis began in 2007, according to research from PricewaterhouseCoopers and the Confederation of British Industry.

The survey shows that the number of people employed in the financial services sector  in the three months to June rose for the first time since September.

Firms surveyed by PwC and CBI said they expect numbers employed to continue growing, with hiring expectations at their highest since June 2007.

But the research also revealed that business volumes for the three months to June grew at a slower pace than in the last three quarters.

CBI chief economic adviser Ian McCafferty says: “The financial services sector continued to recover over the past three months, but with slower volume growth, following three stronger quarters.

“What is heartening is the unexpected, strong rise in numbers employed in the sector.”

PwC UK banking leader Andrew Gray says: “While there is good news on jobs, with an increase over the quarter, banks remain focused on costs. Recent announcements show banks will continue to make headcount reductions where required as they reshape their cost base.”

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