2023 was a year of transition for the City of London. The concerns over jobs being lost to mainland Europe following Brexit were realised, as both numbers of vacancies fell, and jobs lost rose significantly. This reversed the post-Covid employment drive that coincided with the increase in home working.One of the more obvious effects of the downturn is seen in the profit warnings delivered in the past couple of weeks by recruitment firms. The warnings made by the likes of Hays, Indeed and Robert Walters are being seen as the first signs of a substantial slowdown in the employment market in general.This has raised concerns regarding the strength, or otherwise, of today’s publication of the December employment report. There could be a major surprise in the number of claimants, as it is estimated that 60k finance jobs were lost in 2023.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.