Updated London Finance Commission tables May 25th, 2023 by Mike Hope In its 2017 report[1], The London Finance Commission (LFC) concluded that a broader tax base for local government, with stronger fiscal controls at the local level, would support growth through the delivery of more integrated and efficient services and increased infrastructure investment. More devolved governance structures might support the development of the strategically important Central…
London’s Economy Today editorial – May 2023 May 25th, 2023 by Daryl Rozario London accelerates ahead of UK in latest growth data Output growth in London was the fastest in the UK, according to the latest regional GDP figures from the Office for National Statistics (ONS). And while the data only run to Q3 2022, more recent figures suggest the capital continues to grow ahead of the rest…
Monitoring the employment impact of mayoral programmes and initiatives – report summary May 18th, 2023 by Abigail Lyons When the Mayor was re-elected in May 2021, he stated that “protecting, preserving and helping to create jobs will be my economic priority”. GLA Economics have therefore produced a report to monitor the employment impact of programmes and initiatives over the mayoral term. Estimates suggest that over the mayoral term (since 2016), the mayor has…
How is inflation affecting people in London? April 27th, 2023 by James Watson This article was recently published on the Economics Observatory website. London is a famously expensive city. But higher salaries, lower energy bills, and better public transport led some to believe that people living in the capital may be resilient to rising prices. By analysing the latest prices micro data, it is clear that Londoners face…
London’s Economy Today editorial – April 2023 April 27th, 2023 by Daryl Rozario, Mike Hope, James Watson, Jasmine Farquharson Inflation still in double digits as doubts arise about persistent price pressures The UK continues to face inflation above 10% according to the latest figures by the Office for National Statistics (ONS). Consumer Price Index (CPI) inflation slowed in March 2023 but still came in at 10.1% year on year. While energy prices remain the…
Post-pandemic international visitors to London March 30th, 2023 by Mike Hope Last Summer there was a significant recovery in international tourism after it nearly fell to nothing during the pandemic. This supplement reports on what is driving those trends, and how they differ from pre-pandemic trends. GLA Economics also publishes tourism forecasts for both domestic and international visitors. This analysis will feed into the development of…
London’s Economy Today editorial – Issue 247 – March 2023 March 30th, 2023 by Daryl Rozario, Gordon Douglass, Mike Hope, and James Watson Cost of living crisis not easing yet, despite Government measures Inflation rose unexpectedly in February, with signs that some price pressures may take longer to ease. Consumer Price Index (CPI) inflation unexpectedly hit 10.4% year-on-year last month, up from 10.1% in January. The three main reasons were prices for restaurants and cafes, food and clothing.…
Poverty in London 2021/22 March 27th, 2023 by Rachel Leeser Key points: The data collection used to create these poverty statistics was heavily affected by the coronavirus (COVID-19) pandemic, as in the previous year, but to a lesser extent. As a result, only a single recorded change in the Department for Work and Pensions’ (DWP) published headline low-income measures was statistically significant. The DWP advises…
The jobs of London: exploring the More Detailed Jobs data March 17th, 2023 by Ammar Ljubijankić Kutasi Walk down a London high street, you may be hard-pressed to find a bustling tobacconist, but you will see no shortage of pastry shops and bakeries serving paninis, cinnamon swirls or pain au chocolats. As the economy, technology and consumer tastes change, the variety of industries people work in also change, a development which we…
Evening and Night Workers in London February 23rd, 2023 by Ammar Ljubijankic Think of London at night and a vibrant city, buzzing with culture and variety, springs to mind. This means that, for many Londoners, evenings and nights are a time for work. We have refreshed our evidence on the capital’s Evening & Night (E&N) workers – first published in 2018[1] – to consider how changes since…
London’s Economy Today editorial – Feb 2023 February 23rd, 2023 by Daryl Rozario, Mike Hope, and Jasmine Farquharson UK economy appears to have avoided recession in 2022 First estimates from the Office for National Statistics (ONS) are that economic activity, or Gross Domestic Product (GDP), was flat in the final quarter of 2022. If this is confirmed by later estimates it would mean that the economy just avoided entering a technical recession of…
Recent apprenticeships trends in London February 8th, 2023 by Monet Durieux & Ruth Moxon (GLA Economics) There have been fewer people starting apprenticeships in London in recent years. This is partly because of changes in government policy, including the introduction of the Apprenticeship Levy in 2017 and wider reforms to improve the quality of training. More recently, the COVID-19 pandemic also caused a significant decrease in apprenticeship starts. This blog reviews…
New population projections for London – building on the results of the 2021 Census February 7th, 2023 by Ben Corr Each year the GLA demography team publish population projections reflecting the most recent available data. Our 2021-based interim projections, published at the end of January, are the first to incorporate updated estimates that build on the results of the 2021 census. A summary report and detailed outputs from the 2021-based projections are available for download…
Quality of jobs for London workers January 26th, 2023 by Ammar Ljubijankić Kutasi, Economist The Office for National Statistics (ONS) recently published an analysis of Job quality in the UK with a range of indicators showing different aspects of job quality at UK and subnational level.[1] London stood out in the data in a number of dimensions. Suggesting a good quality of jobs, workers living in London reported…
London’s Economy Today – editorial – Issue 245 – Jan 2023 January 26th, 2023 by Daryl Rozario, Gordon Douglass, James Watson and Jasmine Farquharson Inflation turning a corner, but households still face pinch points ahead Consumer Price Index (CPI) inflation eased for a second consecutive month in December, according to the Office for National Statistics’ (ONS) latest release. But at 10.5% year on year, headline CPI price growth remains near the highest level in 40 years. The latest data…
Online postings for green jobs in London January 9th, 2023 by Sawyer Phinney & Christopher Rocks (GLA Economics) To track the size and impact of London’s green economy, the GLA primarily draws from the Low Carbon Environmental Goods and Services Sector (LCEGS) dataset. Due to be updated in early 2023, the LCEGS data provides information on sales, employment, and businesses in three key areas: low carbon, renewable energy, and environmental services. This blog…
