UK financial sector: total financial services employment in the UK 2001-2019

Between 2001 to 2019, employment in the financial services sector in the United Kingdom (UK) has fallen. In 2019, the total number of people employed in this sector in the UK amounted to approximately 1.1 million. This was a decrease compared to pre-global recession figures, when on the British market there were 1.2 million people were employed in all subsectors of financial services. These figures have decreased as a result of the crisis and closer of bank branches across the country, to approximately 1.1 million in 2010, but since then they noted a rocky few years fluctuating between nearly 1.15 and 1.1 million employees.

Financial service sector

The trend for the total number of financial services sector employees in the United Kingdom can be seen in contrast to estimations for London, as one of the leading centers of international finance. Overall the number of finance and insurance sector employees in London is forecast to grow over the coming years.

Financial service sector

Financial services, which include banks, credit unions, credit-card companies, accountancy firms, insurance companies as well as financial service companies are an integral part of any economy. The banking sector assets as percentage of gross domestic product (GDP) was approximately 380 percent in 2018.