Coronavirus and Brexit Adversely Affect London's Finance Sector

Coronavirus and Brexit Adversely Affect London's Finance Sector Coronavirus and Brexit adversely affect London’s finance sector. Accordingly, job postings in the London financial sector decreased by 54 percent. The employment gap in the London financial sector fell 54 percent compared to the third quarter of 2019, with uncertainty over the coronavirus epidemic, Brexit and falling bank profits, as well as reduced purchases. In the City of London's financial district, companies posted 3,810 job postings in the three-month period up to September, according to a report released by recruitment firm Morgan McKinley on Monday. While this number of job postings constituted a part of the job opportunities of previous years, the total number of postings increased compared to 2,490, which was the number 3 months ago when tighter quarantine measures were applied during the epidemic process of England. “Businesses and job seekers are grappling with the effects of the pandemic, and are concerned about what impact the second wave will have," Morgan McKinley executive director Hakan Enver said "But we must not forget Brexit. There are concerns about the long-term recovery and free movement of capital.” This decline in the search for employees occurred at a time of rising layoffs in the UK and globally in the banking sector, which was greatly affected by low interest rates.