London's Financial Job Market Remained Broadly Flat In July - Data

Robbie Lawther

16 August 2017

London's financial services sector saw just a 1 per cent increase in the number of jobs available in July, according to the , against a backdrop of uncertainty as certain banks began to unveil their post-Brexit contingency plans.

The marginal rise in available jobs came as several financial institutions said they would reduce their operations in the City once the UK exits the European Union.

The monitor also logged a 12 per cent rise month-on-month in professionals in the financial sector seeking jobs during July. Both the reductions and the announcement caused an “uncharacteristically high jobs activity during a month traditionally marked by summer holidays,” the London Employment Monitor said.

Overall, there was a reported 11 per cent decrease in jobs available compared to July 2016, and there was a 33 per cent decrease in professionals seeking jobs, year-on-year.

However, July marked the fourth consecutive month of growth in both jobs and job seekers, but according to the LEM, “grounds for optimism remain elusive”.