Fewer finance companies 'expecting to increase workforce'

25 April 2008 In Financial Careers

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The number of finance sector employers expecting to increase staffing levels has fallen sharply in recent months, according to the results of a new study.

A survey conducted by Manpower asked businesses to predict whether they would have more or less staff in place by the end of the second quarter of 2008.

It found that a net four per cent of finance sector companies expect to increase their workforce before the end of June.

This may sound positive given the current economic climate, but the figure has fallen by 16 percentage points since the first quarter and 23 percentage points from 12 months ago.

It was a similar story in the business services sector, where a net seven per cent of employers expect to increase staff numbers, compared to ten per cent in the first quarter of 2008 and 18 per cent a year ago.

The report's findings come just weeks after a Morgan McKinley survey revealed that there were 23 per cent fewer city jobs available in March than in the corresponding period in 2007.

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