City of London Finance Jobs Are Disappearing as Gloom Sets In
- Post-pandemic hiring frenzy has left some firms overstaffed
- Number of job seekers also declined, employment report says
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The City of London has fewer finance jobs to offer after a post-pandemic hiring boom left companies overstaffed while economic uncertainty caused a sense of gloom among workers and businesses alike.
Financial services job postings in the Square Mile dropped almost a third in the quarter through September from a year earlier, according to a report published by recruitment consultancy Morgan McKinley. The decline extends a downward trend in vacancies seen since the end to the hiring frenzy of 2021 and early 2022, when financial firms were desperate to bolster their workforce.