Drop In Salaried, Vacancy Wane: Report
Dated - 17/04/12
From the month of February to the month of March, the average initial salary of the people who are senior workers as far as the financial sector is concerned, has fell by 16.5 per cent. According to a report, this fall has been the biggest one in the present year when the number of the vacancies has also gone down in comparison to the previous year.
In the Month of March, the job vacancies in the bank, in some of the insurance companies as well as in the case of asset managers the vacancies were down by around 57 per cent when a comparison was done with the last year. This was revealed by the data which was provided by the recruitment consultant agency Morgan McKinley.
In the first three months of the year 2012 from the time of the fourth quarter of the year 2011, the availability of jobs has gone up by 4 per cent. But inspite of this the industry a a one whole is hiring very little people and that too on salaried that are quite low from it was a year ago. The main reason of this is being said the uncertainty of the economy that is still prevailing. In the second half of the year because of the euro zone crisis that had hit the country along with other countries of the world, the investment banks mainly had to face a lot of problem. Because of this thing only, many people had to loose their jobs all over London and also other center related to financial matters.
Confederation of British Industry had done a survey just a few days back that has brought in a ray of relief all over the place. This survey had showed that some of the firms are now not laying their employed off their jobs from the first quarter of the month and have also started hiring.
Andrew Evans, working at Morgan McKinley informed that because of some of the employers in the city, there are talks doing round that the condition of the market is not improving and the level of confidence has also gone up which was very low in the last quarter of the year.
Although the hiring were more in the month of February than in the month of March and came down by around 8 per cent but the feeling of confidence is still prevailing.
Summary: From February to of March, the average initial salary of the people who are senior workers as far as the financial sector is concerned, has fell but the market of jobs is still slowly gaining momentum.