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Job Vacancies in London’s Finance Industry Rose 15% in April, Survey Says

Job vacancies at London’s financial- services companies rose 15 percent in April as firms rehired following the credit crisis, according to a recruitment consultant.

The number of openings in the City, London’s main financial district, and elsewhere in the capital rose to 6,426 last month from 5,569 in April 2010, executive search firm Morgan McKinley said today. The figure was flat compared with the previous month.

“Following the short working month of April 2011, all indicators point to an upward trend over May and June,” Andrew Evans, chief operations officer of Morgan McKinley’s financial- services unit, said in the statement. “Any increase in hiring is likely to be measured.”

Britain’s Conservative-led coalition government is relying on private companies to create jobs over the next four years as the government axes more than 300,000 public-sector posts in the biggest fiscal squeeze since World War II.

The number of people seeking jobs fell 17 percent to 13,110 in April from a month earlier, Morgan McKinley said. Average City salaries slid 4 percent last month to 52,228 pounds ($84,724), the survey showed.

The time taken to fill new jobs in April was on average 60 days, nine days more than the previous month, the survey said.

To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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