New job vacancy numbers within the City of Londonís financial services industry outstripped supply for the third month this year in April 2007. It is the ninth time this has been the case in the last 12 months. New job vacancy numbers in April rose strongly, up 27% compared to the same month the previous year and while candidate numbers rose by 15% during the same period, demand is still significantly outweighing supply.
Robert Thesiger, COO Europe of Morgan McKinleyís parent company, Imprint Plc comments:
ìThe City of Londonís job market remains in rude health with sustained growth in new job vacancy numbers compared to this time last year. However, the availability of quality candidates to feed these rises in demand continues to be a key concern for the sector. The numbers of financial services workers looking for new career opportunities each month, is simply not enough to bridge the gap between demand and supply.î
Seasonal hiring patterns emerge
The first four months of 2007 have shown a typical seasonal recruitment pattern with spikes in new vacancy numbers in January and March, sandwiching the shortest two working months of the year so far, February and April. With the Easter holiday period falling into the month of April, both candidate availability and hiring activity slowed during the period, down 8% and 10% respectively.
Average basic salaries across the support, middle market and senior bandings have remained steady over the month, with the overall average basic salary standing at 51,159, down a marginal 0.2% on the March figure.
Robert Thesiger, COO Europe of Morgan McKinleyís parent company, Imprint Plc comments: ìTypical seasonal hiring traits can be seen in the April new vacancy figures as the Easter holiday season affected activity levels over the month. However overall, job numbers continue to show substantial increases on this time last year and I would expect vacancies to continue to rise over the next couple of months before we head into the slower summer period.î
Demand continues to outstrip supply in the City of London job market
No let up in gap between demand and supply
