Job vacancies jump as City confidence rises

Tim Wallace
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INCREASING confidence in the City sent job vacancies up sharply in May while the salaries of those taking new jobs also improved, according to new figures out today from recruiter Morgan McKinley.

It found 6,426 opportunities coming onto the market last month, up 20 per cent from the 5,355 available in April.

And those taking new jobs recorded an average salary rise of eight per cent in the month.

“An increase in new job availability is certainly a good sign, indicating cautious confidence from hiring managers in growth potential for their business areas,” said Morgan McKinley’s Hakan Enver. “From recent conversations with job seekers, there is definitely a feeling that job insecurity is less of a concern; individuals are more comfortable with the idea of looking around.”

But finance firms have been working hard to control costs in the last year, in part by cutting staff. Not all of that ground has been recovered this month – job vacancy numbers are down 59 per cent on the 15,498 in May 2012.