City jobs set to hit a 20 year low in 2013

It is estimated that the number of jobs available in the City are going to hit a two decade low next year, after a complete collapse in the number of mergers and equity trading that has been taking place in 2012. It is estimated that many businesses are going to change their models due to the collapse, and this is going to have a very poor effect on employment.

A recent report that has been issued by the Centre for Economics and Business Research has stated that the redundancies that are going to take place in 2013 are probably going to be greater than many people feared at first.

It is expected that the number of jobs are going to fall significantly over the next two years, and are going to be reduced by over 100,000 compared to the boom times of 2007. This will mean that the number of jobs available in the city will be at its lowest point since 1993.

The centre redefined its estimates after reconsidering the number of problems that was seen this year when it comes to equity trading and merges. The Chief Executive of the centre, Douglas McWilliams has stated, “We have changed our forecast because it is clear that there is a reduction in activity in the sector, and this is a sign of a weak economy.

These effects are part of the hangover from the financial crisis, and is also partly caused by the increased regulation which is being seen.” The only companies that seem to be bucking the trend of poor performance this year are those involved in the technology sector as well as private equity businesses.