18,000 more jobs are likely to be lost in the UK Financial Services sector in the next three months, according to the CBI employers group and PwC.
Although the last quarter of 2012 saw an increase in profits and an optimism that business will return, with trading volumes up in insurance, investment management and building societies, a recent report suggests that staff shortages will limit business and investment this year. 25,000 jobs were lost in the last quarter, with banking taking the biggest hit.
Although the finance industry might have permanently shrunk, there will be hirings as well as firings this year: operations director at Morgan McKinley Financial Services, Hakan Enver said: ‘speaking to those with hiring responsibility across the sector, there is expected to be a significant amount of recruitment activity likely to take place during January’. Take a look at graduate jobs available now.
Despite instability in the sector, the jobs market is also looking more stable, with a slow but even pace. Nonetheless, job creation is predicted to be slower in 2013 than in 2012.