City jobs slump showing signs of tailing off

A DECLINE in job opportunities in the Square Mile has been stemmed in recent months, with vacancies increasing at the start of 2013, according to figures published this morning.

The number of financial services vacancies in London rose 25 per cent between the final quarter of 2012 and the first three months of 2013, the latest data from recruitment consultancy Morgan McKinley claims.

Although job creation in March was down 14 per cent compared to the same month last year, this was the slowest decline for more than a year and a half. In comparison, the decline between September 2011 and September 2012 was 43 per cent, and between March 2011 and March 2012 it was 55 per cent.

In the first quarter of 2013, job creation was 7,308, up from 5,859 in the final three months of 2012. New jobs were down seven per cent between February and March, however.

“This data indicates a good start to the year, but March 2013 was negatively affected by Easter coming earlier than usual, causing it to be a shorter working month,” Morgan McKinley’s Hakan Enver said. “There are signs that even when job availability falls, it is not declining quite as consistently as previous yearly comparisons.”