City’s jobs knocked by tough conditions

Elizabeth Fournier
THE number of new financial jobs in the City fell by 11 per cent in July, as tough trading conditions hit recruitment in London’s banking sector.

Just 4,800 City vacancies were created in July 2011, down from 5,400 in June, according to research by financial recruiter Astbury Marsden.

The firm also said that the number of finance workers looking for a new role has risen by almost a third in one month, with 14,280 people looking for a new job in July, up fro 10,750 in June.

“Staff had been sitting on their hands for much of this year... but news of impending job cuts has forced them to get back onto the market in case it is their department that is forced to make redundancies,” said Astbury Marsden operations chief Mark Cameron.