Regional Trends Report October 2018 – London

APSCo and Vacancysoft

October 2018

The London economy is approximately 17% of the UK’s total GDP and is dominated by the services sector. Indeed when analysing the total annual exports from the UK, over 40% comes from services, which is centered around London. Factor that services employ over 3.2 million people in London, out of which, 1.25 million are in finance. London is also the European hub for one out of every three large global conglomerates, yet the pending departure from the EU could lead to certain businesses relocating. Against that backdrop:

  • Vacancy activity in 2018 so far has been buoyant and has been significantly up on 2017 so far, with volumes up 30% on last year.
  • IT roles have become the dominant area of professional hiring.
  • Vacancies within Banking have increased overall, however it is interesting to note the growth has come from the back office, meaning from IT roles.

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