The number of staff employed in the US securities industry has risen to its highest level in almost five years on the back of recruitment by financial groups keen to capitalise on booming markets.

US securities firms added 2,000 staff in September, pushing employment levels in the industry to about 802,500 by the end of the month, its highest monthly tally since the end of 2001. The September figures from the Securities Industry and Financial Markets Association, an industry lobby group that represents the biggest participants in the financial sector, mark the third month in a row that employment numbers have risen in the US. The group cited figures from the US Bureau of Labor Statistics. The latest increase in staffing means employment levels are at their highest since the end of 2001, when the US securities industry employed 810,200 workers. There were 790,600 staff at the end of last year. The hiring spree this year comes as dealflow in the equity capital markets and mergers and acquisitions sectors has surged to record levels, while the fixed income markets have also been robust. The lobby group, which was formed through the merger of the Securities Industry Association and the Bond Market Association in June, said the number of staff employed in the US securities industry has increased by 7% from the 751,000 low in October 2003, although it lags the record 840,900 staff recorded in March 2001 by nearly 5%. Securities industry employment in New York, which houses the US financial centre on Wall Street, fell for the second month in a row in September, reaching the lowest level in six months. Financial institutions employed about 198,400 staff in New York state at the end of September, down from 201,100 the previous month, while the number of jobs in New York City fell by 3,000 to 177,200. The number of securities industry staff has risen since a year ago in New York and on a national level. The lobby group said national employment has increased in the 31 months since the end of the last cyclical employment downturn in October 2003.