Employment drop in financial services

<strong>Employment levels in the financial services sector fell at its fastest rate in 17 years at the end of 2010, new research has shown.</strong><br /> <br /> This drop could threaten the number of graduate jobs available in the sector.<br /> <br /> Figures from the Confederation of British Industry (CBI) and PricewaterhouseCoopers (PwC) reveal that employment fell much more than expected.<br /> <br /> Director-general designate of the CBI John Cridland, said there been a noticeable fall in the number of people employed in financial services since September.<br /> <br /> &quot;This probably reflects renewed cost control given little growth in incomes and slower growth in profitability,&quot; he said.<br /> <br /> But he pointed out that conditions varied widely across the sector saying, &quot;Whereas the banks expect business volumes to remain subdued next quarter, securities traders and investment managers have fared much better and are continuing to take on staff.&quot;<br />