Jobs forecast shows Tower Hamlets as engine of employment growth

commuters B&WLondon will experience a 16% growth in the employment market over the next 20 years creating nearly a million new jobs. This growth in employment from 5.5 million jobs in 2014 to 6.4 million by 2036 will be driven by the professional sector, real estate and scientific and technical roles.

Demonstrating the shifting nature of work in the capital some sectors will see a decline. The reduction in manufacturing, as previously reported by Urbs, will fall further, by 54%. That’s around 72,000 posts. Finance jobs are also forecast to shrink by around 9,000.

Jobs grown sector

The figures come from the GLA’s Employment Projection for 2015 which forecasts that jobs growth will be concentrated in inner London. Tower Hamlets stands out with an estimated 74% employment growth, adding 200,000 new jobs. That’s nearly a quarter of all the new posts in London for the period.  Southwark will see strong growth and other job creation is focused in central boroughs.

Jobs growth map

But, as the map shows, while the overall forecast appears optimistic many boroughs are predicted to show very low levels of job growth. And two, Croydon and Barking and Dagenham are expected to see a decline in employment, in line with current trends.

jobs growth trend

Source data

See also

Jobs growth shows changing face of work

Jobs concentrated in just 5 of London’s 33 boroughs

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People good, infrastructure less so – what foreign business thinks of London

 

Election 2015: London’s jobs record

With election campaigning underway the economy is a key battleground and the prospects for employment growth a key feature. So what happened to job creation in the capital during the Cameron government?

Urbs analysis of data on the London workforce by sector shows that from 2009  (the last full year of dreamstime_s_50768526 copythe previous Labour government) to 2013 (the most recent data) 440,000 jobs were created in London, a growth of 9%.

There was a broad increase across most sectors with strongest growth in professional, scientific and technical roles, in line with the long term trend.  (See Urbs.London on job market trends)

 

The big fall was in the public administration jobs, such as the civil service, where 20,000 were lost. 6000 jobs also went in manufacturing, continuing the decline seen in London over the last 30 years.

Some sectors of the job market also proved stubbornly sluggish with little growth in retail, finance and transport.

Data source

Jobs growth shows changing face of work

The London jobs market has grown by 28% in 30 years. In that time London has seen a massive expansion in professional roles and the collapse of manufacturing.

commuters street copyThere are an estimated 5.3 million people working in London, up from 4.1 million in 1984. The proportion of residents to out of town commuters is not shown in the London workforce sectors data from the GLA, which covers 1984 to 2013.

In 1984 manufacturing accounted for 11% of the jobs in London and was the biggest sector of the workforce. By 2013 it was just 2% of the workforce, and had seen a fall in job numbers of 74%.

Meanwhile the expansion of the professional, scientific and technical sector has seen 500,000 new jobs created. This sector includes jobs in real estate and shows an overall growth of more than 150%. Construction in the same period grew by just 20%.

Other big growth sectors underline the changing nature of the workplace. Information and communication roles grew by 85% while admin and support jobs more than doubled.

Sectors that have shrunk include those covering the public sector, down by 21% and transport and storage, which has fallen by 12.6%.

 

Source data