Job offers increase in financial services sector

New figures from pre-employment screening firm for financial services Powerchex reveal a 2% increase in job offers from the previous month, raising hopes of a lasting economic recovery.

New figures from pre-employment screening firm for financial services Powerchex reveal a 2% increase in job offers from the previous month, raising hopes of a lasting economic recovery.

Investment banks, hedge funds and stockbrokerage firms all showed significant increases in recruitment from the previous months, with investment banks leading the war on talent by increasing their offers by 15%. Investment managers did not contribute to the increase as job offers to the sector decreased by 15% (see graph).

Job gains were also produced in the IT contractor market, mostly reflecting IT projects restarting that had fallen by the wayside due to the recession. However, daily rates have been slashed as there are far more job applicants than there are jobs.

The future could prove challenging as well with the Organisation for Economic Co-operation forecasting that UK unemployment will increase to a rate of 9.3% in 2010 and to 9.5% the year after.

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