New Figures Published By The CBI

Optimism in the financial sector remains at a high level, despite overall employment within the financial sector falling for a second consecutive quarter.

Figures from the CBI employers' organisation and PwC show that 59% of firms said they were more optimistic now than in the previous quarter, despite only 23% of firms increasing their headcount in the three months to March. As many as 46% said employment had fallen.

The study also found that as many as 39% of firms are expecting numbers to continue to fall, while only 25% of firms are aiming to increase their headcount.

Growth across the sector has also slowed – less than a third (31%) reported increases in business volumes, while 7% reported decreases.

Rain Newton-Smith, CBI director of economics, said, "This quarter was a mixed picture for the financial services sector.”

Expert Opinion

It is welcome to see optimism remaining high despite some of the challenges which have been faced by financial services organisations. <br/> <br/>"With conditions in the industry evolving, it is clear that many businesses are continuing to think positively towards the future and one in four are still looking to develop their workforce and recruit. <br/> <br/>"Any businesses looking to take on new staff should ensure they have the policies in place to effectively integrate new people into their operations, as well as regulations which will ensure that workers are fully aware of what is expected of them." Steven Beahan - Partner