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Less than half of City jobs are in finance

first_img FINANCIAL companies in the City and Canary Wharf stimulate a vast and varied range of jobs outside the sector, according to official figures seen by City A.M.Less than half (44 per cent) the jobs in London’s main financial districts were in finance and insurance in 2009, with 232,682 other jobs existing in support services and sectors such as retailing.“For every financial services head office job there are other jobs created in the City and Canary Wharf – from retail, hospitality and professional and public services,” said Chris Cummings of promotional body TheCityUK. “The same is true across the UK, and that’s why we must preserve and develop the UK’s role as a global financial services hub,” said Cummings.In the City and Canary Wharf, there were 18,300 jobs in hotels and restaurants and 18,800 jobs in wholesale and retail trade, according to data compiled by the Office of National Statistics (ONS).Many of the related jobs rely on the financial sector, Cummings said. As the recession started to bite, a seven per cent fall in financial jobs coincided with a 22 per cent drop in administration and support activities, the figures showed.And employment in the City fringe also receives knock on effects, the data suggests. As City finance employment rose by 4,000 between 2006 and 2007, finance jobs in fringe areas increased by 4,600.FAST FACTS | CITY JOBS● The City and Canary Wharf provide 18,300 jobs in hotels and restaurants (2009).● And a total of 232,682 non-finance jobs.● Just 44 per cent of jobs in the two areas are directly in finance and insurance. Share Sunday 30 January 2011 10:56 pm Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepediacenter_img whatsapp KCS-content Less than half of City jobs are in finance Tags: NULL whatsapplast_img read more