-
· South
West and West Midlands top banking employment
‘hotspots’
-
· Scotland
cements its dominance as a banking jobs hub, growing by 4% in
2015, twice as fast as the UK average
-
· 90
of the top 100 constituencies with the highest share of bank
and building were outside of London
-
· Over
3,700 banking apprenticeships created in 2015 and Q1
2016
The UK is continuing to benefit from sustained regional growth in
banking and building society jobs, according to the latest
research from the BBA.
Figures from the BBA’s Jobs in Banking Factsheet published today,
reveal that the South West (10%)¹ and West Midlands (5.9%)² have
seen the fastest rise in banking jobs in the UK, maintaining a
year-on-year increase. North of the border, Scotland grew by 4%
in 2015, accounting for 11% of all banking jobs and growth that
outstripped both London and the UK average³.
|
Regional Banking & Building Society
employment figures 2015
|
|
Region
|
2014 to 2015
Change
|
Share of Total
Local Jobs
|
Total Banking &
Building Society Jobs
|
|
South West
|
10.0%
|
1.3%
|
33000
|
|
West Midlands
|
5.9%
|
1.1%
|
27000
|
|
Scotland
|
4.0%
|
1.8%
|
44500
|
|
London
|
2.3%
|
2.9%
|
143750
|
|
Wales
|
2.0%
|
1.0%
|
12750
|
|
East of England
|
1.7%
|
0.6%
|
15250
|
|
East Midlands
|
0.0%
|
0.8%
|
17000
|
|
Yorkshire and Humber
|
0.0%
|
1.5%
|
36000
|
|
North East
|
0.0%
|
1.1%
|
12250
|
|
South East
|
-0.8%
|
0.7%
|
29250
|
|
North West
|
-7.7%
|
1.1%
|
36000
|
|
Northern Ireland
|
N/A
|
1.5%
|
11010
|
The BBA’s figures show that the UK Banking industry
employed 406,750 people in 2015, an increase of 6,700 (1.7%) on
the previous year. This provided the sector with the first year
of positive growth for bank and building society jobs since
2010. However, despite strong
regional growth, the overall number of banking jobs was still
down by 8% from 2010, influenced by issues affecting the UK’s
competitiveness, such as regulation and taxation, as well as
reflecting the structural changes in the industry.
Poplar and Limehouse in East London was the top location
for banking jobs, providing over 20% of local jobs. However, the
100 constituencies with the highest share of bank and building
society jobs (accounting for more than 1% of the local employment
in 2015), 90 were outside of the capital. There are five
parliamentary constituencies with more than 10% of local jobs in
banking and building societies in 2015, of which four are outside
London: Edinburgh West (14%), Edinburgh South West (11%),
Bournemouth East (11%) and Halifax (11%).
The industry is also maintaining its stake in employees’ futures,
with 3,700 apprenticeships created in 2015 and Q1
2016, three quarters (75%) of which were outside London. Around
one in 10 (11%) of new apprenticeships across the UK were based
in Scotland, with a further 6% in Wales and 3% in Northern
Ireland.
Commenting on the figures, BBA Chief Executive Anthony
Browne said: “Despite the impression of banking
being London based, our latest figures show the overwhelming
contribution the industry makes to communities across the UK,
through jobs and apprenticeships. From Edinburgh to Exeter,
Birmingham to Bournemouth, Britain’s regions have continued to
maintain their impressive growth, cementing their reputation as
great places for banks and building societies to find talented
local people and to do business.”
ENDS
For more information please contact the BBA press office
on 020 7216 8989.
Notes to editors:
- · 3,300
banking and building society jobs created in the South West in
2015 and Q1 2016, taking total number of regional banking sector
jobs to 33,000.
- · 1596
banking and building society jobs created in the West Midlands in
2015 and Q1 2016, taking total number of regional banking sector
jobs to 27,000.
- · 44,500
banking and building society jobs in Scotland accounting for
10.94% of all UK banking sector jobs.
- · Total
of 406,750 banking and building society jobs in the UK in 2015
and Q1 2016.
- · The
BBA’s Jobs in Banking Factsheet draws on the latest data from the
ONS and the BBA Annual Census 2016.
Methodology
This BBA factsheet uses data which is aggregated and based on
ONS, Nomis/Business Register and Employment Survey (BRES) 2015,
published in September 2016. This factsheet focuses only on two
ONS SIC 2007 industry codes – Banks only: 64191 and Building
Societies: 64192. Therefore, employment in areas such as the
Central Bank are excluded. The apprenticeships data is from the
BBA’s Employment Census; the data is aggregated and based on a
compiled survey of BBA member banks from March 2015 to March
2016.
- · A list
of the parliamentary constituencies where banks and building
societies make up more than 2% of local jobs is set out below.
|
Parliamentary constituencies with bank and
building society
jobs above 2% of local jobs, 2015
|
|
Poplar and Limehouse
|
20.3%
|
|
Edinburgh West
|
14.1%
|
|
Edinburgh South West
|
11.2%
|
|
Bournemouth East
|
10.9%
|
|
Halifax
|
10.5%
|
|
Houghton and Sunderland South
|
9.6%
|
|
South Swindon
|
9.5%
|
|
Bethnal Green and Bow
|
8.1%
|
|
Liverpool, Wavertree
|
7.4%
|
|
Northampton North
|
7.4%
|
|
Leeds West
|
7.2%
|
|
Staffordshire Moorlands
|
6.9%
|
|
Tatton
|
6.6%
|
|
West Dunbartonshire
|
6.5%
|
|
Rutherglen and Hamilton West
|
6.3%
|
|
Dunfermline and West Fife
|
6.3%
|
|
Cities of London and Westminster
|
6.0%
|
|
Bootle
|
5.2%
|
|
South Northamptonshire
|
4.9%
|
|
Bristol West
|
4.7%
|
|
Wolverhampton North East
|
4.6%
|
|
Newport West
|
4.4%
|
|
Sheffield Central
|
4.2%
|
|
Brentwood and Ongar
|
4.1%
|
|
Glasgow Central
|
3.9%
|
|
Bradford East
|
3.9%
|
|
Stockton South
|
3.9%
|
|
Stockport
|
3.8%
|
|
Manchester Central
|
3.7%
|
|
Cardiff South and Penarth
|
3.6%
|
|
Islington South and Finsbury
|
3.6%
|
|
Edinburgh East
|
3.5%
|
|
Leeds Central
|
3.4%
|
|
Inverclyde
|
3.4%
|
|
Birmingham, Ladywood
|
3.4%
|
|
Newcastle upon Tyne Central
|
3.4%
|
|
Milton Keynes North
|
3.3%
|
|
Skipton and Ripon
|
3.3%
|
|
Gloucester
|
3.3%
|
|
Shipley
|
3.3%
|
|
Bradford West
|
3.2%
|
|
Coventry South
|
3.2%
|
|
City of Chester
|
3.1%
|
|
Birmingham, Edgbaston
|
3.1%
|
|
South Leicestershire
|
2.8%
|
|
Meon Valley
|
2.8%
|
|
Coventry North East
|
2.7%
|
|
Morley and Outwood
|
2.7%
|
|
Cardiff North
|
2.6%
|
|
West Lancashire
|
2.3%
|
|
Pudsey
|
2.3%
|
|
Poole
|
2.3%
|
|
Penistone and Stocksbridge
|
2.3%
|
|
Birmingham, Yardley
|
2.3%
|
|
Edinburgh North and Leith
|
2.2%
|
|
Bolton West
|
2.2%
|
|
Enfield, Southgate
|
2.2%
|
|
Rochester and Strood
|
2.0%
|
