Morgan McKinley has just released its latest Employment Monitor together with the results of its yearly Bonus Satisfaction Survey.

Whilst city hiring is steadily on the increase with 17% more available jobs on the market since the last reported statistics from April 12, the Euro debt crisis coupled with the current state of the UK economy means that the total number of job seekers is still down 58% on last year’s figures.

So why has the number of job seekers dropped 58% since last year?

Well, there are several contributors but the main ones are:

• The number of available jobs is still down by 25 % year-on-year, so there is significantly fewer roles on the market for candidates to interview for.
• The poor economic background naturally leads to a lesser inclination for professionals to start looking for new jobs; also the high numbers of job seekers in May 11 was prior to the London FS market redundancies. This suggests that there was more confidence in the market in May 11 compared to now (May 12) where the uncertainty could deter professionals from leaving their current roles.
• The bonus satisfaction survey released also lends support to the lack of job seekers to an extent. Of those surveyed the satisfaction toward remuneration is leveling out with 42% saying they were satisfied with their bonus. In the past, a high level of dissatisfaction with compensation could have correlated with an increase in job seeking numbers around May-June following the bonus payout.

To view the full results of Bonus Satisfaction Survey and the May London Employment Monitor please the main website.

Also don’t forget to watch the video below where Andy Evans comments on this month’s results.

city jobs, Financial Services, Financial services hiring, London Employment monitor, Morgan McKinley London employment Monitor