City jobs vacancies down 43 per cent on 2006 peak

JOB OPPORTUNITIES in financial services collapsed in December thanks to the Eurozone crisis, according to Morgan McKinley’s London employment monitor, published today.

Vacancies in the sector fell by 36 per cent on the month – a more severe drop than the usual Christmas holiday fall, because of worries over the economy.

For the year as a whole, vacancies fell eight per cent compared with 2010, to 56,587. The level is 43 per cent lower than the 2006 peak.

“Ongoing Eurozone issues compounded by turbulence in financial markets sent shockwaves through financial institutions in late 2011, rendering the hiring market very subdued, particularly in the wind down towards Christmas,” said Morgan McKinley’s Andrew Evans.