The number of jobs in the City of London has risen by a third in the past year, but the number of candidates waiting to fill them has fallen for the past two months in a row.

A report by recruitment firm Morgan McKinley suggests there are now 1,966 more jobs than candidates in the City of London.

Potential job seekers appear to have been watching the football instead of sending out CVs. Morgan McKinley says World Cup fever may have contributed a 15.3% reduction in the number of financial services candidates between May and June.

There are indications that the shortage of staff is pushing up pay in the back office. Morgan McKinley says salaries for support and administration roles rose 7% between May and June, to an average of 29,121.