City job vacancies edge up yet market remains down on 2011

Julian Harris
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THE CITY jobs market surprisingly picked up in August as the Olympic Games failed to dent activity in the Square Mile, a top recruiter said this morning.

Yet Morgan McKinley, which published the research, also warned that financial sector employment prospects remain worse than at this time last year.

There was a five per cent lift in London’s financial services vacancies last month, compared to July, the report showed.

However, job availability was a depressing 34 per cent lower than in August 2011.

“Professionals with a regulatory bias, namely those in risk, compliance and audit are still in demand more than other skill sets,” added Morgan McKinley’s Hakan Enver, citing “the stricter regulatory stance” of authorities that regulate the industry.

Overall the jobs market remains sluggish, Enver added, blaming “Eurozone concerns, the double dip recession as well as overall reductions in trading flows.”