Jump in City jobseekers as pay recovers

 
Tim Wallace
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THE NUMBER of jobseekers entering the market for a new position in financial services rocketed by more than one-fifth in September, according to data out today from City recruiters Morgan McKinley.

A total of 7,082 new jobseekers came onto the market last month, up 21 per cent from 5,816 new entrants in August, the agency said.

On the year, that means an 86 per cent increase in job hunters.

Meanwhile vacancies increased eight per cent from 6,804 in August to 7.371 in September.

Pay for new hires increased sharply – the recruiter found those securing new positions received an average pay rise of 15 per cent in September.

“September 2013 marked five years since the collapse of Lehman Brothers which arguably led to the worst global recession in recent times. The positive news however, is that the financial services sector is now on a noticeable road to recover,” said Morgan McKinley’s Hakan Enver. “There has been strong demand for advisory compliance professionals over the first nine months of the year and this trend is showing no signs of slowing down as we head towards Christmas.”