There are two problems in London?s financial services jobs market: there are few jobs and there are few candidates

Where is everyone?

Recruitment firm Morgan McKinley updated its estimates for new jobs and new candidates in London, in financial services, this week.

They show two things: jobs are still a lot lower than before the fall; candidate numbers have collapsed in the past six months.

Morgan McKinley thought there were 3,915 new jobs coming onto the market in May. This was was a 17% improvement on April 2012. But in May 2011, Morgan McKinley thought 6,426 new jobs appeared. In May 2007: 9,828.

Meanwhile, more people seemed to decide to try looking for a new job last month. Morgan McKinley thinks financial services jobseekers (both in and out of work) rose 17% month on month compared to April. However, the 6,419 new jobseekers were a fraction of the 15,150 people who decided to look for work in May 2011.

What does this say? That banking jobs are still hard to come by, albeit easier to come by than in April. And that recruiters? jobs have become harder than ever: on one hand they need to find jobs to fill, on the other they need to persuade recalcitrant candidates to fill them. If you are someone with a desirable CV, recruiters will be very pleased to hear from you indeed.

Based on figures from Morgan McKinley

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