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City jobs stable, says survey

14 Sep 2007

City jobs stable, says survey There is good news for graduates looking for career opportunities in the City of London as jobs in the capital's financial district remain stable according to a new survey.

The Morgan McKinley London Employment Monitor shows that there were 8.5 per cent more City vacancies in August than there were in the same month last year and three per cent more than in July.

This comes despite predictions of large job cuts amid continued financial market turbulence. Indeed, the figures show that far from putting off City workers the recent volatility has actually instilled confidence in many, with 43 per cent expecting the uncertainty to pass shortly.

In terms of City wages average basic salaries increased by 1.3 per cent between July and August to reach £51,707 and there is also good news on bonuses, with half of City workers expecting them to be some 24 per cent higher than last year.

"It's encouraging seeing healthy levels of recruitment activity in August and City confidence remaining strong," said Robert Thesiger, chief operating officer at Morgan McKinley's parent company Imprint, adding that September is likely to follow a similar trend.

Figures from the Office for National Statistics show that City bonuses increased by 30 per cent this year to reach a record total of £14 billion.

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