Contractors to see more job opportunities in London
Limited company contractors and freelancers who have specialist skills in media, internet and creative industries, will be interested to hear that a report has found these sectors are likely to see a boost in job opportunities within London.
The survey, which was carried out by the economic think tank Centre for Economics and Business Research (CEBR), found that employment in Inner London East is set to soar by 31% by 2031 and the Inner London West is predicted to rise by nine per cent.
According to the report, government infrastructure investment in the run up to the Olympics has helped with the employment and population growth in East London.
CEBR Economist Rob Harbron said, “The projected broadening of London’s growth base is positive news both for the capital’s economy and for the prospects of the UK as a whole. Having eggs in more baskets should help London to weather economic storms better than during the financial crisis and downturn of 2008-09.”
Charles Davis, CEBR Head of Macroeconomics said, “London is evolving and adapting to life post-financial crisis. While in the short term there has been no shortage of pain with job losses across the City and economic output broadly flat in 2012, we think there are positive signs that the capital is adjusting and new sectors are taking prominence in different parts of London away from the City and West End.
He added, “This economic shift is also driving social change as population in East London booms. While this change was already taking place, the impetus provided by the Olympics has helped to secure infrastructure investment which should contribute to further growth in both employment and population in East London.”