Archive for July 2012

The eurozone is embroiled in a fresh panic, investment banks are starting a new round of layoffs after second quarter results and employers are being more exacting than ever when recruiting for new staff.

However, financial services firms are still hiring, albeit more tentatively, and recruiters are still struggling to find specific skill-sets.

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Average UK salary increases have failed to keep pace with inflation over the past year, according to the Salary Survey for 2012 from Robert Walters, the global recruitment firm.

Its detailed listing of many professional salaries – including a small sprinkling of C-suite roles, but not chief executives of large companies, whose pay increases have mostly been far more generous – show permanent salaries in the UK are up 1.5 per cent year-on-year.

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Unemployment in the UK for the three months to May 2012 stands at 2.8 million, down 65,000 from the previous quarter, the Office for National Statistics (ONS) has reported.

The employment rate for those aged from 16 to 64 was 70.7%, up 0.3% on the quarter. There were 29.35 million people in employment aged 16 and over, up 181,000 on the quarter.

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The rise of ‘mobile-commerce’ is creating opportunities for IT professionals – as banks, retailers and telecoms companies start to make their moves in this growing market, but more than half will have to re-skill in order to take advantage.

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THE domestic banking sector may be one of the strongest in the world, but its bankers are doing it tougher than many of their peers.

Jobs in the financial services industry slumped 37 per cent in the second quarter compared with a year earlier, according to the quarterly review of opportunities across 23 sectors by eFinancialCareers.

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The number of Scots finding permanent jobs rose again last month – but at the slowest rate since January, according to a survey of recruitment agencies.

The Bank of Scotland Report on Jobs said greater demand for staff contributed to a “moderate” rise in permanent placements during June.

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Jul/12

13

United Kingdom: Taxation Briefing

Real Time Information – an update

From October 2013, all employers will be required to submit electronic returns of payroll data to HM Revenue & Customs (HMRC) under the new Real Time Information (RTI) service. Larger employers and pension providers will start making returns even earlier, from April 2013.

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Jul/12

13

Scotland: Jobs Market ‘Improving’

The number of people applying for jobs in Scotland has dipped slightly in the past three months, figures suggest.

Analysis from jobs website totaljobs.com showed there were 15 people applying for every vacancy in Scotland in the second quarter of 2012.

That was down from 19 people in the first quarter.

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Continued economic issues affect financial services hiring as job opportunities fall 33%

London Employment Monitor June 12 Highlights

  • The latest London Employment Monitor registered a 33% decrease in the number of financial services jobs newly available in the market from May 12 to June 12
  • Compared to June 11, this was a decrease of 53% in the number of roles coming onto the market
  • The number of professionals starting the search for a new position declined by 3% month-on-month
  • Compared to the same time last year, this was a 60% drop in the number of people entering the jobs market
  • The average salary for those securing new jobs in June 12 dropped by a negligible 1% month-on-month and by 4% from June 11.
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London’s Olympic Games are set to provide job opportunities for contractors, as revealed by a new survey by the Recruitment and Employment Confederation (REC).

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