City job vacancies rise by 20%

Job vacancies in the City of London were up 20% in May, but the number of candidates looking for a career in financial services dropped, a survey showed.

The number of vacancies in London’s financial services industry was up by 9% from April 2006 and average basic salaries continued to push above the £50,000 mark for the third consecutive month.

However, the number of new financial services candidates was down by 16% on May 2005 levels, the survey of 200 City firms by Morgan McKinley recruitment consultancy showed.

Robert Thesiger, chief executive of Morgan McKinley, said the candidate shortage was the most significant issue.

“As new job numbers once again overtook the number of new candidates looking for a career move last month, the shortage of high-calibre candidates to fill these vacancies continues to be the key issue that financial services organisations will need to combat over the remainder of 2006,” he said.

Jobs outstrip candidates as City confidence grows

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