Those looking for finance jobs in the US may wish to note 400 Citigroup positions could be about to move from New York to New Jersey.

The Wall Street Journal reports that the organisation is considering the change after New Jersey's Economic Development Authority approved a $12.3 million subsidy incentive to attract the Manhattan-based bank.

Anu Ahluwalia, spokeswoman for Citigroup, described the move as an opportunity for expansion in the region.

She stated: "Citi is exploring additional office space to accommodate growth plans in the tri-state area but has not entered into any definitive arrangements."

The organisation told officials in New York that its overall employment levels in the Big Apple should not reduce as a consequence of the development.

Earlier in the month, figures from the Bureau of Labor Statistics revealed the number of jobs in the US escalated by 192,000 in February, while the joblessness rate stayed relatively unchanged at 8.9 per cent.

Posted by Sarah Dixon