General election leads to boost in jobs, employment monitor shows

The number of financial services jobs in London increased month-on-month in June as a result of the 2017 general election, according to Morgan McKinley’s London Employment Monitor.

This is the third year in a row that this figure has risen, with an increase of 18 per cent in 2016 after the EU referendum and a rise of 56 per cent in 2015 after the previous general election.

Boost

The monitor also showed a boost in the number of professionals seeking jobs, with an increase of 5 per cent month-on-month.

According to Morgan McKinley, people with skills in risk management, quantitative finance, and internal audit are in high demand among institutions, and the finance sector is also taking on workers with artificial intelligence and cyber security skills.

Separate research from Capital Economics and YouGov showed that whilst business confidence is at a low as a result of the general election and Brexit, financial services firms are among the least pessimistic.

Upswing

Morgan McKinley Operations Director Hakan Enver said: “Each election over the course of the last three years has defied expectations and resulted in an upswing in hiring, albeit with a little less panache this time around.”