Green shoots for jobs in the City in spite of Eurozone’s worries

Julian Harris
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RECRUITMENT in the City and throughout the UK is defying the gloomy economic outlook despite increasing worries over a crisis in the Eurozone.

London’s financial sector boosted the number of jobs available in May by 17 per cent compared to April, according to a Morgan McKinley survey released this morning.

And three quarters of workers received a bonus for the last year, while 70 per cent of bonuses were as high or higher than during the previous year, the data showed.

The positive jobs news was echoed elsewhere in the UK, according to two separate reports also released this morning.

The country-wide jobs market is “defying gravity”, recruitment firm ManpowerGroup said. Employment is set to increase in all regions of the south, west, and middle of England, it predicts, as well as in Northern Ireland.

Meanwhile a survey by KPMG and the Recruitment and Employment Confederation (REC) found a “modest rise” in permanent staff placements in May, yet the increase was the weakest in five months.