CLF’s jobs market has grown substantially since the economic crisis, but the changing nature of work in central London presents acute challenges for central London residents.
CLF’s labour market has performed well since the financial crisis. Over half a million jobs have been created in central London in the period 2010-15, accounting for 64% of London’s total jobs growth. The employment rate is now the highest on record, and a growing share of the newly created jobs are in high-value, highly paid sectors such as professional and business services, finance, and ICT, which alone account for 40% of jobs in central London.
Yet, CLF boroughs face several challenges that we are working collectively to address:
We have developed a skills strategy to support our residents to access the quality employment opportunities available in central London. Our boroughs are working together and with other local stakeholders to deliver on the recommendations included in this strategy. Additional work includes commissioning research on low pay in central London, and developing a new way for providers and employers in the health and social work sector to come together to form an outcomes-based agreement around skills.
If you would like to support this work, please get in touch.