London accounts for 6% of the sectoral employment compared to 12% of UK employment. Employment levels are forecast to decline over the next 10 years. Employment in the region is focused on headquarter activities. There are around 1,550 employers in London and it has the highest proportion of employers with less than 10 employees (75%).

Data from the Labour Force Survey for the region’s workforce profile shows that the sector has a very diverse workforce including:

• 9-10% of the workforce is aged 16-24 years, compared to 12% of the region as a whole
• the largest group is 25-44 years (60%), indicating a young workforce compared to other regions
• 31% of the workforce is over 45 years, compared to 32% of the region as a whole
• the greatest proportion of females work in the sector in London (38% compared to 45% of the region as a whole)
• 33% of the workforce is non-white, which again is the highest proportion compared to other regions (27% overall for the region)

Only 7% of employers reported skills gaps within their workforce, which are most commonly among sales and customer service workers.

Over the next 10 years, the proportion of females workers in the sector is forecast to increase by 4.7%. This is likely to be the result of an increase in the part-time workforce. The occupational profile of the sector is expected to remain fairly stable over the next 10 years.

Source: Cogent Sector Skill Needs Assessment 2006