More than three thousand new jobs were created in the City of London this month. That's 25% more than in March last year according to new figures.
According to the recruitment firm Astbury Marsden the rise was down to investment banks increasing their numbers of technology staff and an increase in mergers and acquisitions.
Living costs are putting people off applying for work placements and internships in London according to a survey by The Debrett's Foundation, which champions social mobility.
Forty seven per cent of people surveyed said living costs and travel would be enough to stop them from applying for positions that they want.
The survey also found that children and young people from privileged backgrounds often land their 'dream' work placements due to family connections. The Debrett's Foundation claims there are "huge disparities in opportunities" open to young people on opposite ends of the social scale.
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The number of new jobs in the City of London increased by almost a fifth last month compared to this time last year.
A study by recruitment firm Astbury Marsden found there were 3,100 new roles in February despite investment banks cutting jobs.
A strong global equities market and positive economic noises emanating from the US and the Eurozone contributed to increased hiring activity in February. "As the oil price stabilises and concerns over a Greek exit from the Eurozone subside at least temporarily, the markets have bounced back in recent weeks which in turn has had a positive impact on hiring at the investment banks.
The report added that City hiring activity is expected to be boosted in the coming weeks as the investment banks sign off their headcount for 2015.
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