In January alone, London has experienced an increase of 1,200 jobs, making the employment number reach 250,000 from 239,000 in one year. Overall, the figures are the strongest it has been in a decade. The unemployed rate has decreased to 7%, compared to 7.9% of last year.
The manufacturing industry in London has added 2,300 workers, which has improved the total in that sector to 29,000. The real estate, finance, business and insurance industries have had a growth of 10,200 jobs, wile the accounting, engineering, tech and law professions have added 4,700.
London Economic Development Corporation’s manager, Kapil Lakhotia, said about the growth:
“Many things are contributing to it, a low dollar and better economic conditions south of the border.”
Since the U.S has experienced a boost in automotive and home construction, the growth has resulted in keeping London suppliers busy. Lakhotia added:
“We have had several significant employment announcements over the year as they win contracts and gain market share in advanced manufacturing, IT, healthcare and other areas.”
The 4.7% employment increase has enabled more security for job seekers to gain stable employment.
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