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Survey: UK Financial Firms Beginning to Hire Again

Survey: UK Financial Firms Beginning to Hire Again

Despite recent job cuts announced by large banks throughout the UK, a new survey indicates that financial firms in Britain have started to add new staff again, Reuters reports.

The study, conducted by the Confederation of British Industry and consulting and accounting firm PricewaterhouseCoopers found a net 19 percent of financial firms reported an increase in headcount during the first three months of the year.

On top of this, 20 percent of these financial firms predicted a rise in employment by the second quarter of 2012.

"As the government seeks to try to provide more competition in the sector the thing that is going to enable banks to retain their customers is high quality of service," Kevin Burrowes, the UK financial services leader at PwC, told reporters recently. He added that PwC was adding IT and customer service employees.

Despite the positive report from PwC, recruiter Astbury Marsden reported an overall dip in hiring from financial firms in London in March, estimating that there are more than 2.3 qualified candidates for each available finance job in the city.

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