Supporting more than 300,000 jobs in a city whose population is just 10,000, London is an economic powerhouse with an influence extending far beyond its borders. But not only does it support a massive workforce, it also generates 75% of the UK's annual GDP. Home of the London Stock Exchange, Lloyds of London, and the Bank of England, London is clearly the financial hub of Great Britain and arguably the most important economic centre in Europe. With a highly skilled workforce - 62% of whom have attained NVQ4 or above - more than half of the employees here hold positions in finance, accountancy, insurance, or banking; and 70% work in a managerial, professional, or technical capacity. London's largest employers are Deutsche Bank, JP Morgan, Barclays, KPMG, Goldman Sachs, and Linklaters. The latter, a leading international legal firm, is an indication of London's second most important employment sector: legal services, which staffs about 15% of the workforce.
Supporting London's large tourism industry, hospitality accounts for about 30,000 jobs. IT employs some 10,000, retail supports a further 6000 jobs, and nearly 4000 work in public sector healthcare. Because London's economy consists of 96% service industry positions, manufacturing only accounts for about 2% of jobs. The city's JSA rate was just 1.9% in 2012, and median weekly income was an astonishing £792.60 (in contrast to the £508 national average). Local recruitment agencies always report a high demand for skilled professionals, especially those with experience in managerial roles.