New City jobs 'rise 10% in October'


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The Independent Online

The number of jobs created in the City of London increased by 10% in the past month, according to a new study.

Recruitment firm Astbury Marsden said jobs increased by around 2,700 in October, although the number of new posts was still 14% down on a year ago.

Mark Cameron, Chief Operating Officer at Astbury Marsden said: "Bankers and fund managers will be relieved to see further signs of stability in the City jobs market. September proved to be an unusually tough month for City jobs, with a sudden drop reversing an otherwise stable summer hiring environment.

"Double digit growth in new jobs is obviously positive news and some banks are posting quarterly results that beat analyst forecasts, but City staff know they shouldn't be popping champagne corks yet.

"This is still a very difficult jobs market, with a huge surplus of talented finance staff who are looking for jobs and continued cost cutting at some of Europe's biggest investment banks."