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The number of vacancies for banking and finance roles is at its highest since 2007, which may be of interest to those looking to set up a recruitment agency.

Despite a report released by the Recruitment and Employment Confederation and KPMG saying that the number of people placed in permanent positions last month rose at the lowest rate this year, financial vacancies in the city are at their highest since before the start of the recession.

The number of financial roles available in the city is now 260 per cent higher than in September 2009, according to figures from Ambition.

As there are approximately ten applicants for every 11 jobs available, workplaces are now struggling more to find candidates with the skills and experience they need.

Meanwhile, "the City job market has strengthened significantly over 2010 and candidates are much more confident about their prospects", according to Tim Gilbert, UK managing director of Ambition.

Recent research from PricewaterhouseCoopers shows that staff turnover is costing the UK £42 billion per year.