City of London recovers from Brexit disruption as job volumes jump 21 per cent

c3bb3euxgaqc098It’s back to business as usual for City firms

London’s jobs market showed a “robust” attitude towards hiring in May as the number of roles in the City jumped compared with the same period last year.

Figures from headhunter Robert Walters, seen exclusively by City A.M., found job volumes in the UK rose 21 per cent year-on-year in May.

After a “challenging period” following the Brexit vote, the first quarter of 2017 saw a number of jobs in the Square Mile recover, and it was encouraging to see the trend continue in May, said Chris Hickey, chief executive of Robert Walters UK, Middle East and Africa.

Hickey said:

Despite ongoing uncertainty over the future of Britain’s relationship with the European Union and the upcoming General Election, employers are maintaining a ‘business as usual’ approach, with demand for professionals in financial services remaining strong.

Read more: UK headhunter warns of “unpredictable geopolitical environment”

Demand for professionals rose across a range of fields in financial services compared with May 2016, particularly in projects (up 22 per cent) and legal specialists (up 54 per cent).

“Professionals with highly sought after skills are in significant demand, and in many cases will be in a position of considering several job offers at once,” Hickey said.

Pressure from regulators is driving the rise in demand for legal specialists, and projects professionals are sought after by banks and financial services firms that are looking to adapt to changing economic circumstances by introducing new systems and initiatives.

“Hiring managers will need to act quickly during the hiring process in order to stand the best chance of securing their favoured candidate. Ensuring that job offers are made promptly after interview can be the difference between securing top talent or losing professionals to a competitor,” he added.


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