City job slump as credit crunch bites

Banking jobs advertised online has fallen dramatically since the summer credit crunch, leading Recruitment industry service provider Broadbean Technology can reveal.

Broadbean Technology puts millions of jobs in front of millions of candidates every month and has found that despite healthy growth in other industries, the banking sector has seen a 16% decrease over the summer months and 19% less banking jobs advertised this August compared with the same period last year.

Even with 19% downturn, Broadbean Technology has identified that the growth of putting jobs online in the banking and services sector has slowed dramatically.

Broadbean Technology put 1.1 million jobs on the internet last month alone on behalf clients such as LogicaCMG and Badenoch & Clarke, and as the digital world swells the amount of job traffic Broadbean receives increases every day, though the amount of banking jobs advertised continues to fall.

In July, 3.9% of all jobs Broadbean put on the internet were in the Banking sector compared with just 2.9% in September. In August Broadbean saw an overall 97% year on year increase of jobs advertised on the internet with some sectors, such as Education and Training, advertising 468% more jobs than in 2006.

Despite fears that the general state of employment would follow in the footsteps of the USA where jobs have fallen for the first time in four years, online job adverts in a majority of sectors continue to grow even over the notorious holiday period.