Bloomberg News

City Job Vacancies Jumped 16% Last Month, London Recruiter Says

September 01, 2013

Office Workers in Canary Wharf

Office workers eat lunch as they sit on a wall in the Canary Wharf business and shopping district in London. Photographer: Simon Dawson/Bloomberg

Job vacancies at London’s financial-services companies jumped 16 percent last month, as confidence returned to the market, recruitment firm Astbury Marsden said.

Openings in the British capital’s City and Canary Wharf financial districts rose to 2,490 in August from 2,150 in July, the London-based recruiter said in a statement today.

Rising stock markets and a rebounding economy are prompting employers to shift from hiring in areas such as compliance to add revenue-generating staff in investment banking and trading, the company said. The U.K. economy grew by 0.7 percent in the second quarter, more than initially estimated, helped by construction and manufacturing. The FTSE 100 Index of Britain’s biggest companies has gained 8.7 percent this year.

“Many employers have been holding back from hiring for revenue-generating front office positions,” Chief Operating Officer Mark Cameron said in the statement. Now they are “starting to feel that the time is right to start filling these roles in order to help drive business growth.”

Candidate numbers last month were slightly above the average for the year to date, with an estimated 4,680 people looking for a new job, the recruiter said.

Astbury Marsden estimated the figures based on advertised vacancies, the company said.

To contact the reporter on this story: Liam Vaughan in London at lvaughan6@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net LLOY LN <Equity> BARC LN <Equity> RBS LN <Equity> JEF US <Equity> HSBA LN <Equity> UBSN VX <Equity> PRU LN <Equity> AV/ LN <Equity>


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