City-type jobs will total 288,000 in 2011, well below the 2007 peak of 354,000, according to research by economic consultancy the Centre for Economics and Business Research (Cebr).

This returns job levels to lower than that seen in 1998.

Cebr had predicted in April that around 2,000 jobs would be added to the City in 2011, and another 3,000 in 2012, but has since revised this figure to total job losses of 27,000 over the two-year period.

Nonetheless, Cebr suggests slow growth will resume in 2013.