Recruitment spike for City of London as economy recovers

THE NUMBER of jobs created in the City of London spiked last month, up by over a third from November 2012, according to a report released this morning.

Recruitment firm Astbury Marsden reports that there were 38 per cent more new City jobs in November than 12 months earlier, suggesting that two quarters of economic growth for the UK are catching up with jobs in the financial services sector.

The figures show that 2,500 jobs were created, despite the fact that there is usually a recruitment lull in autumn.

“We have seen more hiring to support growing activity in equities and equities derivatives trading. In particular we are seeing banks put increased resources into the more specialist equity derivative products, and into their quantitative trading programmes,” said Mark Cameron of Astbury Marsden. The firm added that banks are building up regulatory teams in anticipation of new rules.