UK companies gloomy on downsizing
The national survey, published by employment services company Manpower, shows that 23% of employers in the finance sector expect net overall job losses in the next quarter.
With just 13% expecting to create new jobs, the figures represent the survey's biggest downswing of confidence of all business sectors.
The latest fall in confidence in the financial sector is the worst for 10 years.
The confidence indicator - calculated as the balance of firms expecting to increase their headcount against those expecting to reduce it - fell by 22 percentage points compared to last year's survey. Last year the balance was a positive 12% this year it stands at minus 10%, compared to an average across all UK sectors of 13%.
Since 1991, when figures fell by 60 percentage points, anticipated job growth in the financial sector has failed to recover, continuing to drop further below the national average.
The results of the QSEP, which is in its 30th year, are compiled from the responses of 2,217 employers.
Across the board, employer confidence is at its lowest level for six years, with confidence in job growth falling 7% compared to last year.
