Crunch puts gay workers in closet

The proportion of City job candidates prepared "to identify themselves as gay" has fallen as they feel less secure about finding work following the credit crunch, according to a survey of almost 1,450 job applicants conducted by financial recruitment specialist Joslin Rowe Associates.

"The City was moving away from its traditional image of white, heterosexual and male - which puts off many gay and lesbian applicants. And, as a result, the proportion of gay and lesbian workers began to increase . . . but it looks as though progress has stalled," said Tara Ricks, managing director.

"More of the older generation will identify themselves as gay - once City workers reach a certain level in an organisation, they feel confident enough to do so. But fewer young gay people are prepared to identify themselves as such. It's about feeling secure in your workplace."

She added: "The credit crunch has made people feel less secure - hence the falling numbers."

Andrew Taylor