There are signs of improvement in the London financial services industry with new job numbers in June the highest this year, according to Morgan McKinley’s employment monitor.

The main findings of the monitor were:

• During June 2009, the number of new job vacancies within London’s financial services industry increased by 20% versus May 2009
• However, despite this there were still 58% fewer new job opportunities than a year ago (June 2008)
  
  
• The number of new candidates entering the jobs market slowed during June 2009, registering a decrease of 9% compared with May 09 and 26% versus June 2008
  
  
• Candidates who did secure a new role in June 2009 took an average of 55 days to do so. This was four days less than it took their counterparts in June 2008
  
  
• The average City salary remained steady at £50,115; an increase of 2% versus the previous month (May 2009) but down 1% versus June 2008.
  
  
• Those individuals who moved roles during Q2 09 received an average increase in their basic salary of 10%. This was 3% more than those who moved in Q1 2009 but 9% less than the same period a year ago (Q2 2008).

Andrew Evans, managing director of Morgan McKinley’s financial services division, says: “If you compare the flow of new financial services job vacancies coming onto the market in the first half of 2009 versus the second half of 2008, the figures suggest that recruitment levels within this sector may well be stabilising.

“This was particularly apparent in June 2009, which registered the highest volume of new jobs so far this year. While this is a positive sign, these figures must be viewed within the context of new vacancies still being at less than half the volume they were at compared to a year ago.

“The financial services jobs market is still highly competitive for jobseekers and despite some positive signs of improvement, it is likely to get even more competitive over the summer months.  

“Traditionally, the third quarter of the year is one of the slowest periods within the annual recruitment calendar and the current economic situation is likely to exacerbate this slowdown in 2009.”