25,000 More City Workers Wanted in the Great Job Glut

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Byline: TRACEY BOLES

THE large number of flotations on the London stock market over recent months has helped fuel a surprise summer boom in demand for financial services staff.

Overall, 25,025 new permanent jobs were up for grabs throughout Britain's financial services industry in July, a leading recruitment company said today.

But the number of people applying for such jobs has failed to keep up with the demand. Across the country, applications dipped by 2.2%.

Latest figures from Joslin Rowe Associates show that the number of financial services jobs on offer in London - from bankers to traders, in-house lawyers, accountants and hedge fund managers - leapt 16.4% in July, defying the usual summer lull in the City employment market.

In the same period last year, the number of jobs dropped by 0.8% month on month, a figure that Joslin Rowe regards as more typical for the time of year.

Candidates registering for new jobs rose by 9.6% in London from June to July, but this total was well short of what was needed to fill all the job vacancies.

Joslin Rowe managing director Tara Ricks said: "We have never seen such a busy summer.

"Record new issues on the UK stock market, global market volatility and a major increase in regulation are all boosting demand for staff across the financial services industry."

She said she expected demand for new recruits would continue to be strong in the autumn.

New issues in London this year include Debenhams, insurance giant Standard Life, gambling software group Playtech, property company Trinity Capital and defence research group QinetiQ. …