Finance sector jobs surge following election
(23 July 2015 – United Kingdom) Demand for staff in the banking and finance sector in the United Kingdom has surged following the Conservative victory in the general election in May.
Job advertising levels fell dramatically in the lead up to the election, particularly in May as the industry waited for an outcome.
The demand for new staff was up again in June, with recruitment firm Morgan McKinley reporting 12,990 new vacancies in the month, up from 8340 in May and 8490 in June 2014.
Surging economic growth and renewed vigour in the financial services sector have resulted in a positive hiring trajectory.
"The growth in jobs and opportunities that we have been predicting throughout 2015 is back on track,” Morgan McKinley’s Hakan Enver told The Telegraph.
“The April-May figures turned out to be an anomaly, due to the short working month and the distractions of the general election.”
In June an extra 12,462 finance workers signed up to look for a new job, up from 9876 in May and more than double the 5662 who did the same in June 2014.
“There is a renewed confidence in looking for new opportunities and these were clearly on offer,” said Enver.
“All the data we are seeing shows that there is a robust market for financial services jobs in the City.”
A skills shortage in areas such as compliance has meant banks need to hire more staff to handle regulation, this has also lead to a rise in salaries.
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