The number of new City jobs fell by 2% in June, according to the latest Morgan McKinley London Employment Monitor.

The Monitor shows that newly available jobs, from 5,733 in May 10 to 5,645 in June.

However, compared to the same period last year, the number of new jobs in the City rose by 49% last month.

The number of new City candidates entering the financial services jobs market rose by 3% month-on-month in June, while there was a 60% increase compared to the same month a year ago.

The Monitor also shows that in June, the average salary for those who secured new jobs in the City was £53,231, 4% down on the average salary of those taking up new roles in May.  

However, research from financial recruiter Ambition reveals that there are currently nine vacancies for every 10 skilled candidates actively looking in London, up from three vacancies per 10 candidates in Q1 2009.  Consequently, Ambition predicts that London can expect to have 10.3 vacancies for every 10 active candidates in Q3 and 12 vacancies per 10 candidates by Q4.
 
Tim Gilbert, UK managing director of Ambition, says: “We’re not expecting a fall in the number of jobs available in London. But even if job growth does slow slightly there won’t be huge numbers of experienced candidates suddenly appearing on the market. This will leave businesses in a number of sectors fighting over talent. As a result you can expect wage inflation – particularly base salary inflation – and more valuable counteroffers being handed out.”