Financial services hiring hits record high


Financial services hiring hits record high
Hiring in the financial services sector hit a record high in the final quarter of 2006, new figures from the Confederation of British Industry (CBI) and PricewaterhouseCoopers show.

In the three months to December 2006, employment grew by 55 per cent, accelerating from eight per cent in September.

Although companies in the sector reported that profitability remained flat during the period, many are expecting it to grow by 15 per cent in the next three months thanks to stronger income generation.

The firms are also predicting a further, although more modest, rise in employment for the sector in the first quarter of 2007, which is good news for those seeking a job in areas such as banking and insurance.

CBI head of economic analysis Doug Godden said: "Although confidence is little changed, the commitment to hiring more staff and the expected increases in volumes and profitability all bode well for the first quarter of 2007."

Related categories: Banking / Finance, Insurance / Pensions.

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