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Industry’s workforce rises 22% in 20 years

Total employment in Britain has risen by 3.6 million in the past 20 years, with the financial services sector workforce growing by over one-fifth, according to the Halifax.

The sector’s workforce has grown by 197,000, or 22 per cent, since 1985 from 888,000 to just under 1.1 million.

In 1985, people working in financial services made up 4 per cent of Britain’s workforce compared with 4.2 per cent now.

This compares with a 92 per cent increase – almost two million people – in business services, including real estate, accountancy, IT, legal services, architecture and advertising. The biggest gains in financial services employment are 65 per cent in Scotland and 61 per cent in Yorkshire and Humberside.

Greater London has the highest percentage of finance sector workers at 8.3 per cent of the workforce against a nat-ional average of 4.2 per cent.

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