Job Generation In Financial Sector
London(online-unsecured-loan.co.uk) Aug 04, 2008:Studies revealed 20,000 more finance jobs were created alone in UK than it was five years ago. Scotland alone has shown a record-breaking growth and this is in accordance to a research conducted by the Bank of Scotland.
In banking sectors, jobs rose by 24,000 in Scotland though the number fell by 4,000 in sectors like the life insurance and pension funds. But, it remains a fact that 107,000 Scots or 4.7% of the total workforce are employed in the business and financial services. Alone 35,000 people are employed by the Royal Bank of Scotland and Bank of Scotland.
According to latest reports, a worker in financial sector earns £699 per week in UK. This is the best in any industry group and the wage stands to £200 that is more than the average UK wage.
The business and finance sector finds 25% of the workforce in its 30 local authority areas spread across the UK. Twenty five of these areas are spread in London and south-east England. Four of it are in east of England and one is in Scotland. Of all 26% living in Edinburgh work in the business and financial sector.
According to grades the next highest local authority areas are East Lothian and East Dunbartonshire(19%). These are followed by Midlothian (18%) and west Lothian (17%). Glasgow is reported to have 14 %.
"Scotland has delivered the strongest percentage growth in financial services employment in Great Britain on a five, 10 and 20 year time frame”, said Tim Crawford, a group economist at the Bank of Scotland
