Finance sector remains resilient, finds index

Recruitment in the finance sector is showing resilience in the face of the global economic slowdown, new figures have suggested.

Findings from the Monster Employment Index have revealed that online job availability in the finance, banking and insurance sector has increased for the third month in a row.

However, the general trend across all sectors was a drop in online hiring activity for the second consecutive month.

Head of Economic Research at Monster Worldwide, Hugo Sellert, stated that the main factor behind the fall in hiring activity is seasonality.

'It is encouraging for potential jobseekers to see that demand in the financial sector remains relatively robust, despite continued turmoil in global credit markets and highly publicised layoffs in banking,' he said.

In contrast to these suggestions, a recent report from the Centre for Economic and Business Research predicted that as many 11,000 jobs could be axed in the City of London during 2008.