Look at Greater London – including Middlesex

Greater London has a total area of 1,600 square kilometres, including the City’s ‘square mile’ with 7.2 million residents and an average household size of 2.3 people. The population has been growing steadily since 1989, and is expected to increase to more than 8 million by 2020. The fundamental factor driving change in London’s employment structure has been the massive substitution of jobs in business services for jobs lost in manufacturing. The finance and business services sector is projected to make the most significant contribution to economic growth over the next 15 years, providing over half of the gross total growth in employment. Other service activities – especially in the creative industries, leisure and retail industries, and in hotels, catering and tourism – will also grow rapidly.

London has the second highest unemployment rate in England after the north-east: 29 per cent of working-age adults are non-employed, compared to 24 per cent in the rest of Great Britain, and the rate is even higher for minority ethnic groups.

London’s bid for the 2012 Olympics focuses primarily on East London, and is set to provide major change and regeneration. Growth projections suggest a net increase in jobs of nearly 650,000 between now and 2016, and this will require the provision of 30,000 new homes a year to meet demand.

The total labour force is around 3.6 million people, supplemented by a further 6 million in the south-east and east regions. Average earnings are almost a third higher than the British average, while more than 250,000 depend on the City.

Financial, professional and business service companies employ 1.3 million people and it is the world’s largest fund management centre. The office-based workforce requires a significant building and transport infrastructure programme. Sixty-three FTSE 100 firms have their HQs in London, which contributes over 18 per cent of the UK’s GDP.

London’s workforce is the most highly qualified in the UK – over a third have a degree – while managers, professionals and technical staff account for 48 per cent of those employed compared to 38 per cent in the rest of the country. London’s ICT sector employs more than 200,000 people, having a quarter of the UK’s software professionals to service the 96 per cent of London companies with Internet access and the 88 per cent with a website.

While manufacturing jobs are expected to decline by 80,000 by 2016, employment in wholesale distribution is expected to grow. London is expected to retain high value-added and design-led manufacturing, engineering, biotechnology and medical devices and pharmaceutical spin-offs. Other dynamic emerging sectors include e-business, creative industries and environmental industries. Tourism is also a key growth industry: it already employs 350,000 people, accounting for 10 per cent of all jobs in London, and welcomes 27 million visitors annually.

London has 33 local authorities, 24 universities and colleges with 350,000 students, 68 kilometres of the River Thames, 130 kilometres of canals, and 39 urban public parks. It contains 50 non-indigenous communities of 10,000 people or more, while 30 per cent of residents were born outside England.

Opportunities and skills shortages

Service leavers have good skills and qualifications for most roles. There are opportunities for engineers, particularly maintenance and service engineers, plumbers, carpenters and bricklayers, and LGV drivers.

Many jobs in service industries, particularly in small to medium-sized enterprises, require flexible, customer-orientated staff with relevant skills. Pay may be comparatively low, and the industries include catering, healthcare, retail and airport security. The financial sector is recruiting, and there are opportunities in security and risk management, and IT.

Although the Metropolitan Police are currently recruiting only among minority groups, the British Transport Police and the UK Atomic Energy Authority Police are looking for people with weapons experience. The Ambulance Service is recruiting paramedics and trainers. Drivers of all classes are in demand, but knowledge of the London area is required.

The overall employment scene remains sound. The 2012 Olympics will bring many opportunities, from construction to project and event management. The suicide bomb attacks of last July have had some affect on the tourist and retail sectors, but so far this does not appear to have translated into job losses. Employers generally report upbeat hiring intentions, with 22 per cent planning to increase staff numbers and just 12 per cent planning cutbacks

Salaries

A rough guide to salaries in the region is given below. This is inevitably very general and there will be variations between industries and also in various parts of London.

Manual £11,000 to £18,000

Semi-skilled £12,000 to £20,000

Skilled and supervisory £14,000 to £25,000

Managerial £23,000 to £45,000

Executive £40,000 and upwards

House price guide

The following prices are a rough guide only to property prices and are liable to overnight change as financial factors in the country as well as in the region affect housing. The average home in London costs about twice the price of a similar property elsewhere in the UK.

2-bed flat £190,000 to £350,000

2-bed terrace £275,000 to £450,000

3-bed semi £350,000 to £700,000

4-bed detached £500,000 to £2,500,000