Secrets of the Job Hunt


Wednesday, February 07, 2007

Jobs in London

London (UK) is an international powerhouse for business and is one of the "three command" centres for the global economy (along with Tokyo and New York City). It also has the Europe's largest city economy, making it one the places to find a job in Europe.

"Currently, over 85 percent (3.2 million) of the employed population of greater London works in the services industries. Another half a million employees resident in Greater London work in manufacturing and construction." The largest industry in London is finance, and in turn, job opportunities are numerous in this field.

For foreign workers, there is the added bonus of not getting taxed on their foreign earnings. Additionally, a business friendly environment (e.g. in the City of London the local government is not elected by the resident population but instead by business - the City of London is a business democracy), good transport infrastructure, particularly its aviation industry and a deregulated economy with little intervention by the government, all assist towards a top grade working environment for those seeking jobs in London.

More than half of the UK's top 100 listed companies (the FTSE 100) and over 100 of Europe's 500 largest companies are headquartered in central London. Over 70 percent of the FTSE 100 are located within London's metropolitan area, and 75 percent of Fortune 500 companies have offices in London. This can mean for the typical job seeker a huge range of excellent jobs in London in some of the best companies in the world.

According to "The Purchasing Managers' Index (PMI) seasonally adjusted measures of business activity, new orders and level of employment all continued to show growth in August. Indeed the rate of job creation in London's private sector economy was stronger than in any other region in August.

"A recent study by recruitment consultants Morgan McKinley shows that the number of new jobs in the City rose by 19 percent in the last three months to August compared with the previous quarter. Finance and business service companies are the most optimistic they have been about hiring new staff for almost a decade. The Morgan McKinley report also finds that most City financial services workers expect bonuses to be at least 50 per cent higher this financial year compared to last." This means that more job possibilities for more people, which can only serve to assist the job seeker.

To conclude, London is a hot spot for both the international economy and in turn, for some of the best companies and employers in the world. New job numbers are still growing phenomenally, and for finance and business job seekers especially this can only be a good thing.

No comments: