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City firms say it will get worse
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21 August 2008
two-thirds expecting business in London to weaken over the next 12 months.
A survey of 161 of the capital's leading financial services firms found 63% expect the industry to suffer further pain.
The poll by City headhunter Morgan McKinley also found 45% of hiring managers think recruitment activity will fall. Some 39% forecast no change while 16% eye an increase in hiring levels.
It came as the number of jobs available in the City fell 16% last month. Robert Thesiger, chief executive of Morgan McKinley parent company Imprint, said: "A year on from the first reports of the credit crunch, it is fair to say that considerable levels of uncertainty remain within the financial services industry and in turn the recruitment market.
"However, there are areas which will continue to grow despite the continued market turbulence."
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