UK finance jobseekers increase 43% in first quarter, coronavirus impacts hiring

LONDON (Reuters) – The number of UK finance professionals seeking new jobs rose by more than 40% in the first quarter compared with the last three months of 2019, even as coronavirus forced employers to pause hiring and cut salary offers by 37%, data released on Monday showed.

FILE PHOTO: General view of the Canary Wharf financial district, as the spread of the coronavirus disease (COVID-19) continues, London, Britain, April 6, 2020. REUTERS/Matthew Childs

According to the latest Morgan McKinley London Employment Monitor, the UK financial services industry suffered a rapid slowdown in hiring in March, arresting a sharp post-Election rebound in January, when the number of available roles increased 97% compared with December 2019 levels.

The number of available jobs dropped by 38%, month-on-month, in March.

“Out of the frying pan and into the fire: we barely got to take a breath between Brexit and this new global crisis,” said Hakan Enver, managing director of Morgan McKinley UK.

“Thankfully, City employers are doing all they can to enable remote working to ensure the safety of employees as well as business continuity.”

HSBC HSBC.L, Barclays (BARC.L), Lloyds (LLOY.L) and Standard Chartered (STAN.L) are among banks to have pledged not to cut any jobs in 2020 to lessen the financial worries

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