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London job market shows strong growth
Friday, 15 June 2007
Professional & financial services
Graduate Job sector Reports
New research has shown a 21 per cent rise in the number of vacancies being offered on the City of London job market over the last year.
Research by financial services firm Morgan McKinley found that, following another four per cent rise from the April figure, there are now 21 per cent more City jobs than there were in the company's May 2006 London Employment Monitor.
Despite an 18 per cent increase in candidate supply over the same period, the study found that there is still an over-supply of job positions in London as the city continues to expand at a great rate.
Commenting on the increased pressure on candidate supply, Robert Thesiger, European chief operating officer of Morgan McKinley's parent company, Imprint Plc, said: "Further pressure is being placed on supply.
"Institutions are moving their hiring processes forward and adjusting their employee offerings in order to stay ahead of the competition.
"In some cases, guaranteed bonuses, aggressive buy backs and counter offers are already on the agenda."
The study found that the average salary for a City of London job had remained steady over the year, now standing at £51,084.