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Weekend Reads Job vacancies in London's financial sector down 54% year-on-year

12:10  19 october  2020
12:10  19 october  2020 Source:   t3n.de

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(Bloomberg) - Job vacancies in London's financial sector fell 54% in the third quarter compared to 2019 as uncertainty surrounding the coronavirus, Brexit and hired new hires for banking profits.

City companies posted 3,810 positions in the three months ended September, according to data released Monday by recruitment agency Morgan McKinley. This is only a fraction of the job opportunities available in previous years. However, it represents an increase from the 2,490 job vacancies three months earlier when the UK had tightened lockdown measures.

Jobs Plunge © Bloomberg Jobs Plunge

“Businesses and job seekers are grappling with the effects of the pandemic and are concerned about what will bring a second wave,” said Hakan Enver, General Manager at Morgan McKinley UK. “But we cannot ignore Brexit either. There are long-term recovery and free flow of capital and equivalents concerns in UK financial services that need to be addressed. ”

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The decline in job vacancies comes amid growing job losses across the UK and against a backdrop of global cuts in the UK Banking industry that is struggling with extremely low interest rates and rapid technological change.

Original title of the article:

Finance Job Vacancies in London Plummet 54% Year-on-Year

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