Latest news: Jobs boost for finance industry

The finance and accountancy industries have led the recovery of the professional services sector over the past 12 months, but the banking industry continues to suffer, new data has revealed. 09/07/2012

As reported by City A.M., a study from the Association of Professional Staffing Companies (APSCo)  showed the banking and insurance industries performed particularly poorly across almost all UK regions and job types in June compared to May.

Chief executive of APSCo, Ann Swain, told the news source, ‘It’s not been a good time to be a banker recently and fears about new regulation, whether from Europe or the UK, in the wake of the recent scandals could put a dampener on recruitment.’

In addition, a separate report by recruitment firm Astbury Marsden revealed the number of new jobs being created in the City of London dropped by 32% between May and June.

However, it was noted in the APSCo data that the finance, accountancy and IT industries are helping the professional services sector slowly return to growth.

The news comes after the publication of another report - by the Recruitment and Employment Confederation (REC)  and KPMG  - which found the number of all temporary and permanent jobs decreased in June, while salaries have also have stagnated.

REC chief executive Kevin Green said, ‘The sharp drop in the number of people placed into work last month is really disappointing. A decrease in hiring activity means we could see a period of increased unemployment, especially as a new wave of school leavers and graduates will be entering the labour market over the summer.’