London financial jobseeker numbers fall as vacancies rise
Financial job opportunities in London have seen a steady rise month-on-month despite Brexit fears, according to the Morgan McKinley London Employment Monitor.
Figures by the professional services recruiter showed a 5% increase of jobs available in November. The jobseeker figures also showed an 8% month-on-month decrease in professionals seeking employment.
However, when it comes to year-on-year figures, the survey saw a 37% fall in jobseekers, a figure consistent with the post-Brexit referendum decline of EU nationals arriving in the country.
“In Brexit-adjusted terms, the jobseeker figures are a net positive for the financial services sector,” said Hakan Enver, operations director, Morgan McKinley Financial Services.
He added: “The City is on the receiving end of a lot of punches these days, but it keeps getting back up to fight another day.”
Salary levels remain the same, as the average salary change for those moving jobs in November remained steady at 16% (£8,017), the figures revealed.
“Despite the ongoing questions raised around the future of the City, organisations are still going out of their way to make sure that they are offering high premiums and a competitive salary to attract talented individuals” said Mr Enver.
Despite upbeat figures, the capital is ‘far from out of the woods’ he added, as the Office for National Statistics (ONS) reported that EU migration in the UK has fallen 43% in the year since Brexit and office development, a key indicator of business growth, was down 9%.
“The tea leaves are impossible to read, but there are potential fights on many fronts left to be fought,” he said.