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Financial services job vacancies rise in February, study finds

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The number of financial services job vacancies rose 11% from January 2013 to February 2013, according to figures published today by recruitment firm Morgan Mckinley.

The number of professionals entering the jobs market last month also rose month-on-month with a 4% increase from 5,065 to 5,266 job seekers. However, the research showed that compared to the same month last year, there was a drop of 13% from 6,084 job seekers looking for new opportunities.

The figures found that although both job availability and job seeker interest in new roles were once again below the levels of February 12, the decreases were smaller than previous months. For job availability, the decrease on the previous year is the smallest gap seen since June 11 and for job seekers, it is the smallest decrease since December 11.

Hakan Enver, operations director, Morgan McKinley financial services said: "It's a promising start to the year to see job availability rise again and this more modest increase of 11% month-on-month is a more realistic picture of the current market.

"It indicates there is still an appetite to hire with continued momentum following the increased number of available jobs in January 13.

"The performance of the FTSE during February 13 will undoubtedly have raised the level of confidence across the City which is always quick to be influenced by key indicators."

Remuneration in the City continued to rise although at a lower level than January 13, the research found. For those securing new jobs in February 13, the average change in their salaries was an increase of 10%.

Enver said: "This increase in the average salary has been a trend over the past year and we expect to see it continue.

"Pockets of the market that are experiencing demand will encourage employers to be competitive with salary offers. Where individuals may see their pay fall when securing a new job is typically only in situations where they have been out of the workplace for a significant period of time and may well be returning to a different role or function.