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There has been an increase in the amount of temporary jobs available in the finance sector.

According to research by recruitment company Joslin Rowe, the rise is caused by the imminent Markets and Financial Instruments Directive (MiFID) due to take effect on November 1st this year, reports Recruitermagazine.co.uk.

It was found that, due to the effect of the MiFID, the number of temporary jobs available has gone up to 21,880 this year from 18,250 the same time last year.

Managing director of Joslin Rowe Temporaries, Nabila Sadiq, told the online magazine: "In times of volatility everyone presumes City recruitment dives dramatically. In fact, temporary hiring can see an increase as some clients take advantage of a flexible recruitment and focus on short-term headcount costs.

"Most of our contingent or temporary workers are still receiving multiple offers."

Not only has the number of positions increased, but hourly pay has increased by 11.9 per cent from last year.

The MiFID will replace the Investment Services Directive (ISD) and will streamline the investment services market, creating a new regulatory regime for European states. It will also introduce a single European Union market for investment firms.

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