Anorak | 80% Of All New Jobs Are In London

80% Of All New Jobs Are In London

by | 28th, January 2014



THERE are various ways you can look at this but it does seem to be true that four out of five, or 80%, of all new private sector jobs are in London :

Talented young people are leaving provincial cities in their 20s, making a success of their lives in London and never go back. London is where the work is: the capital was responsible for four out of every five jobs created in the private sector between 2010 and 2012.

The brain drain meant that every major city outside the south-east is losing young people to London. One in three 22-30 year olds leaving their hometowns end up with Oyster cards and Boris as their mayor.

As ever, the migrants are following the jobs. So we’re seeing the provincial young moving off to London to try their luck. And of course many to most succeed, but they don’t then go home again. They tend to then move out of London but into the counties surrounding it, not going all the way back home.

What we might make of this is myriad: we could say that London’s stealing all the bright and ambitious so the provincial economies will never be able to get ahead. But then as the Dick Whittington story tells us, this has always been true. Indeed, it’s true that the UK (most especially England) is dominated by London in a manner that no other European country is dominated by its capital. And if we’re to be honest it always has been.

However, there are two important points

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Posted: 28th, January 2014 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink