London financial services jobs hit record high

The number of jobs in London's financial and related professional services industry has hit a record a high, says TheCityUK.

According to the group's London Employment Survey, there were 709,500 jobs in the industry as of December 2014, which shows a 2.5% rise year-on-year.

It also forecasts that jobs within the sector are set to rise by a further 2.7% in 2015, which equates to another 19,200 jobs.

TheCityUK said accounting and management consultancy helped boost financial and professional services jobs, after a 6.3% rise in positions.

The number of fund management sector jobs also rose to 25,300.

"London's position as the pre-eminent international financial centre and the value that brings to the national economy should not be under-estimated," said Chris Cummings, CEO of TheCityUK.

"This industry is the nation's leading tax payer contributing £66bn (€87.4bn, $99bn) to the Exchequer just last year and also attracts more Foreign Direct Investment than any other industry in the UK. It is essential that the country continues to attract overseas firms, foreign direct investment and the best talent by sending a clear message that it is a genuinely competitive and world-leading place to do business.

"There are a range of measures that can help to achieve this, including better regulation and indeed making sure that any new regulation only improves our international competitiveness and attractiveness; helping people build up skills for life no matter what age, remaining in a reformed EU, and investing in infrastructure to ensure prosperity is shared fairly across the country," he concluded.

Meanwhile, TheCityUK revealed that employment growth outside of London outpaced that in the capital, for the first time since 2009.

The survey shows that financial and professional services jobs jumped by 2.7% to over 2.1 million as of December 2014.

It forecasts UK-wide industry job growth to rise 2.5% by the end of this year, equating to 54,000 new positions across the country.

"A strong financial and related professional services industry and a strong economy go hand-in-hand," said Cummings.

"As well as being a significant employer in its own right, the industry also underpins job creation and boosts growth across the broader economy, helping finance hospitals, schools and roads. Its continued strength right across the UK is a positive indicator of the health of the economy."