London’s financial services job market rose in October for the first time in four months, according to Morgan McKinley’s monthly employment monitor.

The UK recruitment firm reported just fewer than 4,000 available financial services jobs across London in October, a modest increase of 0.4 per compared with the previous month.

But the number of available jobs was 22 per cent lower than in the same month last year.

The number of professionals entering the London financial services jobs market increased by 9 per cent from the previous month, while the average salary for those taking up new positions was £52,601 (about $85,000), 5 per cent lower than in September.

“Looking ahead, November is likely to be fairly similar in some respects as the market conditions impacting hiring in September and October look set to continue,” said Andrew Evans, chief operations officer, Morgan McKinley Financial Services.

Evans suggested that there could be more volatility coming up as a resolution of the eurozone debt crisis is approaching. This could result in the hiring market moving very quickly in either direction.