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New financial services job vacancies dip 59%

New job vacancies in the financial services sector has dropped 59 per cent from July 2008 to July this year, Morgan McKinley research reveals

Morgan McKinley’s London Employment Monitor shows that the number of new financial services job vacancies in July was 3,528, seven per cent down from June’s 3,780, but up on May’s 3,150.

Despite there being a 20 per cent increase in June from May’s levels this year, year on year vacancies dropped 59 per cent in July from 8,568 last year.

The average city salary crept up last month from £50,115 in June to £53,223 in July, up six per cent.

Morgan McKinley managing director of financial services division Andrew Evans says the month on month drop is more likely to be the result of seasonal factors rather than a further weakening in the jobs market.

He says: “As expected, the levels of hiring in London’s financial services industry slowed as we moved into the first month of the summer holiday season.
“Given the delicate state of the jobs market, it was encouraging to see that despite the decrease from the previous month, July still recorded the second highest number of new jobs in any one month so far this year.”

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