While figures indicate calm on the job market front, what is motivating job seekers may be just the opposite.

The number of new financial services jobs available in London grew 1 per cent month-on-month to 8,400 in September, suggesting a stabilisation of the jobs market, according to data from recruiter Morgan McKinley.

“Clearly there’s an ongoing appetite to recruit,” said Hakan Enver, operations director at Morgan McKinley Financial Services. “Given the volatility that we have been facing, two months of positive growth is welcome news.” 

The number of job seekers was up by 9 per cent at 15,480, compared to a 12 per cent drop in September last year. However, it is unclear if this surge is down to market confidence or fear of layoffs. 

Several European banks have announced plans to cut staff numbers recently. ABN AMRO, for example, has committed to reducing both staff and non-staff related costs by €200 million ($220 million) in the next year. Commerzbank, meanwhile, plans to cut 9,600 jobs and suspend dividend payments as part of its own strategic overhaul.

“Whilst the banking industry has been under scrutiny, it can make candidate decisions to commit to organisations harder,” said Enver.