Surprise jump in May jobs in the City, says Astbury Marsden
Wed, 6 Jun 2012
May saw a surprising 25% rise in the number of new City jobs created, jumping to 4,320 from 3,455 in April, according to figures from City recruiter Astbury Marsden.
This is the highest level since August 2011, but is still 35% down on the 6,650 new jobs figure in May 2011.
Mark Cameron, chief operating officer at Astbury Marsden says: “Sentiment has improved since the latter stages of 2011 but, to put this recent recovery in perspective, the jobs market is still far lower than this time last year.”
The survey also shows that foreign exchange and interest rate derivatives teams have seen a particular pick-up in recruitment volumes over the year.
“May witnessed the euro slumping to its lowest level against the dollar for almost two years. With institutional investors bearish about the euro, currency sales teams have certainly been earning their keep. That volatility has created income for the banks and brokers,” Cameron adds.
“Derivatives traders covering the commodities and credit markets are yet to join the party.”