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Report: Fewer financial jobs to be available in London

Report: Fewer financial jobs to be available in London

A significant number of professionals working in London's financial sector could face redundancy in the near future, new research has indicated.

According to a study published today (May 9th) by the Centre for Economics and Business Research (CEBR), the knock-on impact of the eurozone debt crisis will directly cause more than 25,000 job losses in this industry throughout 2012.

The overall level of financial positions available in the capital city is expected to fall to 255,000 this year, a figure that would represent the lowest number of roles in this arena since 1996.

In addition, this is markedly lower than the 280,350 jobs in London last year and the CEBR attributes this downward trend primarily to the fact banks have had their revenue streams severely affected by issues on the continent.

This comes after the group revealed yesterday that total unemployment across the UK could rise above ten per cent by 2016.

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Posted by Chris Stevenson