Job vacancies in London' financial services sector declined notably in April as subdued economic activity curbed recruitment, a survey by recruitment consultancy Morgan McKinley showed Thursday.
The number of permanent and temporary job vacancies in financial services companies fell 22 percent year-on-year in April to 5,922. Compared to March, job opportunities decreased by 5 percent.
At the same time, the number of professionals seeking employment in London finance firms dropped 5 percent from a year earlier to 5,146 in April. Sequentially, however, their number increased by 5 percent.
"Economic conditions are not yet strong enough to stop other factors significantly impacting hiring activity and we do expect to see further fluctuations in recruitment levels throughout the rest of the year," Morgan McKinley Financial Services Operations Director Hakan Enver said.
On the wage front, the average salary for new employees rose 13 percent in April compared to salaries in their previous jobs, which was slightly lower than the last year's levels when salaries for those changing jobs rose by 19 percent.
"Based on strong Q1 results from some financial institutions, we hope to see a further uplift in the number of roles coming on to the market towards the start of the summer, although it is very likely most will still be replacement hiring," Enver added.
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