40% drop in banking jobs on offer amid Brexit row
The number of job openings in London for banking professionals has slumped almost 40% in the past year as financial services firms weigh up hirings in a volatile pre-Brexit environment.
International recruitment group Morgan McKinley also said that 28% fewer professionals in the city are looking for new roles compared to this time last year. Even compared to November, there's been a stark decline in hiring activity among professionals, as Brexit negotiations between the UK and the European Union came to a head.
Month-on-month, there was a 14% decrease in the number of finance professionals seeking jobs and a 4% fall in the number of jobs available, according to the December employment report from Morgan McKinley.
Morgan McKinley managing director Hakan Enver said the deal proposed by Prime Minister Theresa May wasn't detailed enough for the UK's financial services industry.
He said: "It's stunning to see that in a 585-page plan for Britain's future, an industry that contributes £119bn a year to the economy barely gets a mention.
"In November of 2017, jobs were up by 5% from the previous month, and only down by 3% from the previous year.
"Brexit has taken a considerable bite out of banking jobs and with an ambiguous Brexit deal on the table, the City's bracing for more pain ahead."