London is 'highly-skilled' jobs capital of the world – Deloitte

By Isabelle Bell, CA Today

2 March 2016

London is the “soft power” capital of the world and has more highly-skilled jobs than any other city, according to a new report by Deloitte.

The UK capital has the most internationally diverse executive community due to its ability to attract and develop leaders, the study found. London employs business leaders from 95 nationalities, ahead of New York, Paris, Hong Kong, Singapore, Tokyo and Sydney.

London also continues to extend its lead as the home of highly-skilled professionals, creating 235,000 new jobs since 2013. There are now 1.71 million high-skills jobs in the London economy, compared to 1.16 million in New York. However, New York now has more high-skilled financial services jobs than London.

Deloitte said that the increase in high-skilled jobs in London has been driven by growth in technology, management and technical consulting roles, as well as the rebalancing of the city’s economy.

All cities performed poorly on gender diversity, the report concluded. Just 10.5% of London’s senior executives are women.

Sydney scored the highest in terms of gender diversity with 12.3% female representation, while only 2.2% of executives in Tokyo are women.

Angus Knowles-Cutler, London office senior partner at Deloitte, warned that London’s success could foreshadow problems, such as increased pressure on housing and infrastructure. He also warned that the threat of automation and advances in technology could “squeeze out” lower paid jobs.

David Sproul, chief executive and senior partner of Deloitte, added: “London’s executive alumni are the most diverse in the world which is important because diversity drives economic prosperity in the world’s global cities.

“With a continuing skills crunch, global cities will depend increasingly on cross-border flows to sustain growth and employment in the future global economy. Whatever the outcome of this June’s referendum, policymakers must be alive to protecting the UK’s ability to attract the high-skilled, highly-networked leaders our businesses need.”

Source: Deloitte


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