The number of employment offers made in the financial services sector in April was up 12% on the previous month, according to pre-employment screening firm Powerchex.

The growth was driven mainly by hedge funds, with a massive 93% increase in offers compared to March. Stockbrokerage and insurance firms also showed moderate improvements, up 23% and 12% respectively.

Alexandra Kelly, director at Powerchex, believes that hiring in the first four months of the year would have been even higher were it not for the threat of a closely contested general election.

“Many organisations were delaying making strategic and funding-based decisions until after the election. Unpredictability caused by a close election battle was particularly prevalent in the financial services sector, with firms avoiding large-scale recruitment until they could be sure of the intentions of the new administration.”

Comparing the year-on-year recruitment figures, the Powerchex survey shows a dramatic increase, with recruitment activity improving by at least 25% in every industry sector and total job offers up 87% (see chart).

Below: Number of employment offers in April 2010 compared to April 2009