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20
APR
2017

City of London still attracting fresh talent after Brexit

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The city of London is still proving to be a magnet for jobs even after the announcement of Brexit.

The Morgan McKinley London Employment Monitor announced a double-digit jump in the financial sector for vacancies last month. The number of financial jobs in London grew by 17% in March, compared to February; and 13% year-on-year for a total of 8,145 new openings.

The growth can be seen in regulatory finance, financial technology and risk management are fuelling the growth.

Hakan Enver, operations director for Morgan McKinley Financial Services, said: “Businesses are done trying to read the tea leaves to see what lies ahead, and they’re getting back to the business of hiring talent.”

There have been firms that have stated they will move their offices outside of the UK in preparation for its departure from the European Union.

These statements however do not seem to have caused higher unemployment in the city of London.

“As London continues to attract investors from across the globe, institutions are grappling with the need to maintain access to the common European market, as well as the wealth of investors and economic productivity in and around London,” the report said.

“Instead of relocating to Europe, therefore, financial services are increasingly looking for the best of both worlds by keeping their foothold in London, and expanding operations in or to other European financial hubs.”

But the number of jobseekers in the sector fell 9% month-on-month and by 25% compared to the same period last year to 9,695.

Mr Enver said March tends to be a quiet month for jobseekers, with the first quarter bonus season still wrapping up.

He predicted better figures in April.

Since Brexit has been announced, Todd and Cue Insurance have published a few articles discussing the UK’s leave from the European Union.

Click here to read more on Brexit.

 

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