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Housing and resident population

Statistical information on these topics can be found in our Development and population pages.

City Briefings

The City Statistics briefing (2MB) looks at the City of London's role as a global business hub for financial and related professional services. It provides facts and figures about employment and firms located within the City, as well as highlighting some recent changes to the City as a workplace.

City workers, City businesses and financial services

The below statistics complement the City Statistics briefing, providing more detail on changes and trends in the City’s workforce, economy, and role as a financial and professional services hub.

Number of people employed in the City

The most recent Business Register and Employment Survey (2017), shows that 483,000 people are employed in the City of London. This represents 9% of Greater London's employment, and 1.6% of the GB's total employment, meaning that over 1 in 63 of the GB's workforce are employed in the City.

Source: Office for National Statistics

Employment projections for financial and professional services

GLA Economics forecasts that employment in London’s finance and insurance services sector will increase by 0.2% annually between 2018-50, amounting to an extra 23,109 workers. Professional services are expected to experience the largest increase in job numbers over this period, with an extra 509,382 jobs added to the workforce (1.4% annual rise in employment). Employment in the City of London is forecast to reach 705,000 by 2050, up 34% from 2016 levels.

The forecast is based on assuming annual output growth of 2.5% per annum in the capital to 2018, and thereafter growth declining at an exponential rate towards 2.0 per cent. It does not include any Brexit-related changes.

Number of businesses in the City of London

Number of City enterprises banded by numbers of employees, 2017

Size (number of employees) 0-4 5-9 10-19 20-49 50-99 100-249 250+ Total
Number of businesses 18,260 2,460 1,775 975 430 275 240 24,420

Source: Office for National Statistics, UK Business; activity, size and location 2017

Number of finance and insurance businesses in the City - compared, 2017*

Area Number of enterprises
City of London 24, 420
London 505,655
Great Britain 2,598,095
United Kingdom 2,668,810

*UK SIC 2007

Source: Office for National Statistics, UK Business; activity, size and location 2017

The makeup of the City of London's workforce

Breakdown of number of jobs in the City by gender, country of birth and age - compared

Area Male Female UK EEA Rest of
the world
20-24 25-49 50+
City of London​ 61% 39% 59% 18% 23% 7% 75% 19%
Greater London​ 53% 47% 50% 14% 26% 8% 68% 25%
Great Britain​ 50.5% 49.5% 86% 8% 11% 9% 59% 32%

Source: Office for National Statistics, Annual Survey of Hours and Earnings, October 2017; Office for National Statistics, Annual Population Survey, 2017; ONS user requested data on “European Economic Area workers in the UK”, 2017.

Contribution of the City and of London to the UK economy

The City of London's contribution to the UK's national income (or Gross Value Added, GVA) is estimated at £49.2bn in 2016 (2.8% of UK's and 12.3% of London's output), while London accounted for £408.5bn or 23.4% of the UK's GVA for 2016.

Source: ONS, Regional gross value added (balanced) by local authority in the UK (released December 2017); ONS, Regional gross value added (balanced) by combined authority in the UK (released December 2017)

Contribution of financial services to the UK economy

The UK's financial services sector made a total tax contribution of £72.1bn in the taxes in the year to March 2017, equivalent to 11% of total UK government tax receipts. This figure includes taxes paid, as well as taxes collected, by the sector.
The UK’s financial services sector contributed over £115.3bn to the economy in 2016, 6.6% of total GVA in the UK. Taken together with professional services, financial services contributed £197.5bn to the UK economy in 2016, accounting for 11.3% of total output.
Sources: PwC and City of London, Total Tax Contribution of UK Financial Services (tenth edition), November 2017, APS/LFS; ONS, Nominal and real regional gross value added (balanced) by industry, 2017; ONS, Annual Business Survey - 2015 revised (PAYE only units included).

What's included Jobs share
of GB employment (2016)
Economic output and share of UK output (2016) Tax take and share of UK government receipts (2016/17)
Financial Services Banks, building societies and central banking;
Insurance, re-insurance and pension funding;
Fund & asset management and market infrastructure
1.1 m jobs
3% of total GB employment
£115.3 bn in output
6.6% of total economic output
£72.1bn in tax receipts
11% of total UK government receipts
Related professional services Accountancy and tax
Legal services
Management consultancy
1.2 m jobs
4% of total GB employment
£82.2 bn in output
4.7% of total economic output
£15.5bn in tax receipts (2015/16)
2.5% of total UK government receipts
Financial and related professional services Financial services and related professional services 2.3 m jobs
7% of total GB employment
£197.5 bn
11.3% of total economic output
£87.6bn in tax receipts
13.5% of UK government receipts

Sources of other statistical information

  • TheCityUK maintains a comprehensive archive of authoritative reports on industry sectors and products as well as updates on key financial indicators.
  • For an analysis of current trends in the City's employment market on a monthly basis, see Morgan McKinley employment register.
  • Nomis is a service provided by the Office for National Statistics, ONS, to give you free access to the most detailed and up-to-date UK labour market statistics from official sources. Access to Business Register and Employment Survey (BRES) data requires special permission for which there is a fee.
  • The City Business Library (CBL) is the leading public library in the UK for free and current business information including business planning statistics.
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