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Worst November for city jobs as figures slump to a five-year low


The city jobs market has suffered its worst November in over five years, with the number of jobs available at a record low, according to the latest figures from financial services recruitment firm Astbury Marsden.

The figures show that approximately 1,790 city jobs were created in November 2012 compared to 2,790 in October 2012 and down from 3,540, five years ago in November 2008.

Mark Cameron, chief operating officer at Astbury Marsden, said: "To put this into perspective, at the height of the city jobs boom in November 2007, there were over 13,000 city jobs created.

"Now there is just a fraction of that. Even during the November following the collapse of [global financial services firm] Lehman Brothers the city still created twice as many jobs as it did last month."

He added: "The city jobs market has been quite stable over the last few months so hopefully the November figures will prove to be a short term blip rather than a sign of things to come."

Cameron concluded: "Hiring in the city typically slows at this time of year, with improvements usually starting to show in the New Year. We're certainly not expecting a massive recovery in January but hopefully the city start to see more constructive Government involvement and will be allowed to get on with creating jobs and supporting the real economy."