Thursday 26 September 2019 6:24 pm

Workers in the City of London broke half a million in 2018

The number of workers employed in the City of London broke half a million last year, according to new data.

Office of National Statistics data released today showed there were 507,000 workers in the City of London last year, up from 495,000 in 2017.

Catherine Mcguinness, policy chair at the City of London Corporation, said: “The fact that the number of jobs in the Square Mile has continued to grow amidst such uncertainty is a tribute to its enduring attractiveness and strengths. 

Read more: Tech jobs in London rise by almost two thirds

“No longer just a world-leading hub for financial and professional services, the City has diversified and is now home to a vibrant creative and tech sector – adding further to its burgeoning offer.”

The number of workers in financial services and insurance in the City increased from 172,000 to 178,000 last year.

However, nationally, the number of workers in financial services and insurance dipped slightly from 1.025m to 1.021m.

Read more: London sees sharpest fall in permanent jobs in almost three years in April, survey shows

The number of financial services and insurance jobs in London as a whole also fell slightly from 366,00 to 362,000.

“While we are pleased to see an increase of financial services jobs in the City, it is a concern that sector jobs have decreased across the UK and in wider London, particularly in the context of Brexit,” Mcguinness said. 

““Sustained uncertainty is frustrating business up-and-down the country, making everyday decisions a challenge. We know that whatever the outcome of Brexit, the UK and particularly the City, will succeed in the long-term. But in order to give the UK the best start to our post-Brexit chapter, government must make avoiding a no-deal Brexit the absolute priority,” she added.