Stat of the day: 11,000

The number of financial services sector jobs expected to be cut during the first three months of 2012.

by Emma Haslett
Last Updated: 09 Oct 2013
It’s not often we feel sorry for City types, but the next few months may yield more sympathy than usual as the number of jobs in the financial services sector plummet. According to a report by the CBI and PricewaterhouseCoopers, 11,000 jobs in the industry will disappear over the next three months, bringing the total number of job cuts to 101,000 since 2008 - that’s almost a tenth of the 1.05m people currently working in the sector.

Now obviously, that’s a drop in the ocean compared with the official unemploment figure (2.64m in the UK, more than 1m 16-24 year-olds) - but nonetheless: next time you see a City fatcat staring dejectedly into space, or weeping quietly into their glass of single malt whiskey, spare them a thought. Or, more fittingly, a few pennies...

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