London jobs market

The capital city of the United Kingdom, London is a global trading hub, a melting pot of cultures and a leading centre of international finance. Almost every street, location and ancient building of this 2000-year-old city have a history worth telling. From Westminster Abbey, and Buckingham Palace to Trafalgar Square and Kew Gardens, London has something to offer to everyone. While being a city of immense historical importance, London also exemplifies a modern city – quick to adopt technological advances.
According to AT Kearney's Global Cities Index, London ranks second among the world’s top performing cities; while Global City Economic Power Index by The Atlantic ranks London as the world’s second most economically powerful city, after New York. Also, London attracts more foreign direct investment (FDI) projects than any other cities in the world, says IBM’s annual Global Location Trends report. It is no wonder then that the top young talents from around the globe flock in London to try their luck.

Job Opportunity

Since the recession, London’s employment growth rate has been the fastest among all UK cities, says the Office for National Statistics (ONS). London, being the political and economic capital of the UK, houses many important offices and corporate headquarters. The city is home to the London Stock Exchange, and headquarters of more than 50 FTSE 100 companies and around 100 of Europe's top 500 companies. Moreover, three out of every four Fortune 500 companies and one out of every three acclaimed multinational companies have offices in London. Being the centre of operations for numerous banks, educational institutions, media houses, hospitals, IT firms, and retail companies, the city offers employment opportunity to a range of job seekers, including marketing managers, engineers, business analysts, IT managers, doctors, nurses, and teachers, just to name a few.

Key Industries

Over the years, London’s economy has become more diversified, with the focus shifting from manufacturing to service industries. Now, around 3.2 million people or 85 percent of the workforce is employed in the service sector, compared to half a million employed in the manufacturing sector. The economy of London is growing fast and could attain a whopping15 percent growth by 2019, driven mainly by the construction and financial services sectors, estimates The Centre for Economics and Business Research. Other key industries contributing to London’s economy include tourism, healthcare, transport, education, information technology, and retail.

Financial Services

London is the world’s largest exporter of financial services. The city is home to a number of international banks and financial institutions, including HSBC, Lloyds Banking Group, Royal Bank of Scotland, European Banking Authority and the Bank of England. Finance graduates can easily find a suitable job in the city. Graduate jobs are available throughout the year in;
  • Investment banking firms, such as Goldman Sachs, Morgan Stanley, JPMorgan, and Barclays Capital
  • Accountancy firms, such as KPMG and Deloitte
  • Insurance companies, such as AXA, RSA, and Aviva
  • London is also a leading centre for foreign exchange trading. The city beats New York in US dollar trading and trades more Euros than all European cities trade.

    Manufacturing & Construction

    The manufacturing sector has been the key driver of London’s economy during the 1800s and early 1900s. Unfortunately, the sector saw a decline after 1960's, but still has around 250,000 people working in its pharmaceutical, food, vehicle, electronics, aircraft, and shipping parts manufacturing industries. Some notable manufacturing companies that are still operational in the city include Nestlé, Ford Dagenham, Alba, Warburtons, Fuller's Brewer, and WestVision. London’s construction industry, on the other hand, has experienced steady growth over the past few years, thanks to new home buildings and several large construction projects, including Paddington Waterside, Kings Cross Central, and the Nine Elms project.

    Technology

    The East London Tech City, spanning across the central and east London, accommodates many acclaimed technology companies, including Intel, Cisco, and Google. According to a recent survey by CBI/KPMG, technology companies will drive London’s growth over the next few years. Even today, London accounts for one in every three tech jobs generated in the UK.

    Whether you are looking for entry-level jobs or new opportunities to move up in the career ladder, London could be your ideal job destination.
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