City AM: City job opening set for ‘slight recovery’ after election-fuelled slump
City AM highlighted Vacancysoft’s latest report on UK Finance Labour Market Trends, created in collaboration with Morgan McKinley.
Recruitment for London finance jobs is set for a “slight recovery” under the new Labour government, following a June slump before the general election. From April to June, London’s financial sector had 6,093 vacancies, a 4.9% decrease from the same period in 2023.
Still, the figures showed July was a record month for job postings after the general election. The report said the instalment of the new Labour government could help “translate into the sector starting to pick up once more”.
Mark Astbury, associate director at Morgan McKinley said:
“Looking ahead to the rest of 2024, there is cautious optimism for a slight recovery in the finance industry. The accountancy and consulting sectors may continue to rebound as businesses seek guidance on adapting to new fiscal policies. Key factors influencing the banking industry’s trajectory include potential regulatory changes.”
“With inflation cooling and interest rates declining, confidence in the job market is expected to improve as we move into 2025. As businesses adapt to new policies and global conditions, there is hope for stabilisation and potential growth throughout next year, paving the way for a more robust recovery.”
Read the full article in City AM.
The labour market data used in this press coverage was extracted from Vacancysoft Analytics. For more information or to book an interactive workshop, click here.
