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Fewer jobs advertised in the City

Published: Thursday, 22 May 2008   Category: Graduate Job sector Reports

A slowdown in banking and finance recruitment has been witnessed during the first half of the year, according to an online advertising firm.

Broadbean Technology's claim that only a third as many jobs are being advertised in the sector as in 2003 follows last week's news of job-losses at a number of City banks, reports Recruiter Magazine.

The reports are likely to hit graduates seeking employment in this competitive market sector.

Dan McGuire, managing director at Broadbean Technology, claimed the data generated by his company acted as a good indicator of the current economic state in the UK.

He said: "Although recruitment activity in banking and finance is slow, other industries such as education have shown sustained growth."

Acting to reassure concerned graduates, he said organisations continued to recognise that finding talent is a difficult phenomenon in the UK, implying high-calibre candidates would still be able to find employment in the sector.

Last week big-four firm KPMG shed 90 jobs in corporate finance and transaction services as a result of the credit crunch.

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