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City employment figures defy political chaos

by LLB Editor
14th Oct 19 7:47 am

Morgan McKinley’s Autumn London Employment Monitor offers a snapshot of hiring trends from July through September 2019. After a rollercoaster first half of the year that saw jobs spike, nosedive, level off, and threaten to head back down again, the third quarter (Q3) followed a similar trajectory: job numbers were up by 20% month-on-month in July, only to go back down by 11% in August and resurface with a 5% increase in September.

Q3 saw the political climate go from uncertain to historically chaotic, as the new Brexit deadline hurtles ever closer. Nevertheless, the City largely weathered the storm: the 12% quarter-on-quarter increase in jobs was mirrored by a 12% increase in job seekers over the same period, strong numbers by Brexit era standards.

Consistent with other post-Brexit Employment Monitors, the year-on-year figures continued to paint a bleak picture.

Hakan Enver, Managing Director, Morgan McKinley UK commented: “Pressure remains strong on both businesses and individual job seekers to hunker down and wait for a resolution on Brexit. As a result, professionals remain reluctant to move, thus failing to generate new positions and growth opportunities for others, and businesses continue to put off all but essential hiring.”

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