Finance jobs slump as outlook worsens

CITY vacancies plummeted in December, forcing larger numbers of well qualified staff to pursue each opportunity, according to figures published today by Astbury Marsden.

Only 1,490 jobs were created in December, down 43 per cent from 2,260 in the same month of 2010.

Despite a strong start, last year 54,020 jobs were created, down eight per cent from 2010.

“Many of the vacancies were replacements for staff leaving rather than brand new roles,” said the recruiting firm’s Mark Cameron.

A lack of market activity is to blame, as well as the uncertainty created by the Eurozone crisis, Cameron said.

According to analysis of FSA data by advisers IMAS, published yesterday, 21,000 senior bankers – one in seven – lost their jobs in the City in 2010.