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City vacancies rise by 82% year-on-year

In a sign that business is booming in the city of London it was revealed that employment vacancies have increased by 82% year-on-year with just over 5,700 vacancies announced in May as opposed to 3,150 in May 2009. Despite the fact that the UK economy as a whole is still struggling to pull away from the recessionary times it seems that the financial sector is enjoying a very strong recovery.

The UK government will have to manage the recovery in the UK economy while also looking to quell growing anger amongst UK taxpayers who are struggling themselves after bailing out the UK banking industry to the tune of hundreds of billions of pounds. It seems very unfair that the banking industry has recovered so quickly whilst the rest of the country has effectively been starved of additional credit with many businesses falling by the wayside were in many cases a short-term credit arrangement could have saved them.

There have been numerous attempts by politicians to force the banks to increase lending in the UK although in all honesty these have fallen on deaf ears despite Lloyds bank and Royal Bank of Scotland signing legally binding agreements.

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