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January 7, 2013 12:01 am
The number of new City of London jobs fell by 35 per cent in 2012, but there are hopes that an easing of the eurozone crisis will improve hiring confidence this year, according to a Square Mile recruiter.
Astbury Marsden said about 35,000 new City jobs were created last year, compared with 54,000 in 2011. It said there were just 800 new vacancies available in December, down from 1,490 the previous year.
Mark Cameron, chief executive officer, said tighter regulation, including higher capital requirements, had forced up costs at a time when revenues dipped.
“Some of the dark clouds around the euro, which has been a major concern in the City for the last 18 months, seem to have lifted, which will encourage some firms who are contemplating hiring staff,” he said.
“While the closure in the US budget battle is still to come, markets have responded well to progress already made there. For the world’s largest economy, which is so important in setting trends globally, 2013 has certainly started on a more positive note than 2012 ended, which could help mitigate the gloomy outlook around hiring.”
Across the economy, January 7 has been dubbed “national job hunt day” by Job Bounties, a recruitment website – the equivalent of retail’s pre-Christmas “cyber Monday”. The company said that, based on patterns seen over the past five years, four people in 10 within the workforce, or nearly 12m, would look for a new job in January.
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