Employment screening firm Powerchex has noted that employment opportunities are finally increasing in the financial services sector.
Financial services recruitment had been badly affected by the recent economic slowdown with 81% fewer jobs for investment bankers in April to June this year in comparison to the same period last year. Employment opportunities within insurance firms fell by 26% over the same period. Employees across the sector, from IT contractors to stockbrokers and managers saw employment opportunities slump by over 40%.
However, when the second quarter of 2009 is compared to the first quarter, signs of a recovery are notable. During this period stockbroker recruitment has increased by 77%. Recruitment by insurance firms and investment managers has increased by 8%. IT contractor hiring has only fallen by 3% this year which is another sign that the sector is starting to recover.
Managing director of Powerchex, Alexandra Kelly says, “Things are certainly improving within financial services. Firms have been recruiting quite aggressively recently as the economic situation stabilises and they attempt to make the most of a very talented pool of people who are desperate for work. Things haven’t returned to last year’s levels but there are plenty of jobs out there.”