Jobs shock for City of London as appointments plunge

Sunday, July 8, 2012
9:54 AM

Even the mighty City of London is feeling the chill of the economic bad weather, show figures – with jobs down sharply.

Permanent placements fell for the first time in six months in June.

Temporary jobs were down for the seventh month in a row, said Recruitment and Employment Confederation (REC)

A separate report by recruitment firm Astbury Marsden showed a 32% fall in new jobs in the City of London between May and June.

Meanwhile, a separate study found fewer than 3,000 new jobs were created in the City of London in June compared with more than 4,300 in May and 5,400 last June.

REC chief executive Kevin Green said: “The sharp drop in the number of people placed into work last month is really disappointing.

“A decrease in hiring activity means we could see a period of increased unemployment, especially as a new wave of school leavers and graduates will be entering the labour market over the summer.

“The UK labour market has been remarkably resilient throughout the downturn and our slow economic recovery. However, employer confidence is fragile and it’s not that surprising that under the weight of the eurozone crisis and other bad news placements fell in June.”