Banking recruitment rapidly declines

Recruitment activity in the Banking and Finance sector slowed rapidly in Q1 according to the latest data from online advertising firm Broadbean Technology.

The job advert distribution company, which delivers over 1.2 million job adverts a month, has witnessed a steady decline of banking roles advertised online since 2006 when there was three times the amount of live online adverts in the sector.

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The information from Broadbean comes after several big banks announced redundancies and substantiates recent forecasts that job losses in the City will reach 10,000.
Although recruitment is at a low in the financial sector, other industries remain stable and some are buoyant. Building, traditionally a vulnerable industry in troubled economic times, has had steady growth with a third more live vacancies being distributed by Broadbean than in 2006.



Dan McGuire, MD at Broadbean Technology, comments , ìThe data that our system generates is a good indicator of the current economic state, so although recruitment activity in banking and finance is slow, other industries such as education have shown sustained growth and organisations still recognise that finding talent continues to be a difficult phenomenon in the UK.î