New jobs decline in City of London
Print Edition
The number of new jobs in London’s financial district fell in October, lagging a recovery in the wider jobs market, according to research by a global recruitment firm.
A total of 2,335 new roles were created last month in the district, down from 2,380 in September, London-based financial services recruiter Astbury Marsden said in a release yesterday.
“Banks have been badly burnt in the past hiring on a short term bounce in business volumes and then having to go through costly lay-offs, so many are being prudent and putting off bigger hiring decisions,” Chief Operating Officer Mark Cameron said.
The number of new jobs fell 12 percent in October from a year earlier.
“Optimism is high and an increase on contract hires is an early indicator of recovery in the City jobs market,” Cameron added.
The number of jobs had grown by nearly one-fifth in April.
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