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.