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Slowing banking sector sheds jobs

In a further sign that all is not well with the UK economy, large numbers of investment bankers are seeking work elsewhere.  Recruitment firm Morgan McKinley have seen an 8pc drop in the number of new financial services jobs on their books over the past year, with just 7,695 available, according to Tim Wallace at the Telegraph:

“At the same time the number of jobseekers has climbed by 36pc on the year to 13,454.”

Part of the fall in vacancies is thought to be due to Brexit fears, with far fewer companies floating on the stock market, and far fewer mergers and acquisitions.  However, vacancies will remain low after June 23 if the downturn in the global economy continues; suggesting that problems are structural.

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