Now the #MigrationFacts are out, what should @Number10gov 's next steps be? Hear from our CEO @JasmineLdnFirst https://t.co/OIqnCTbHXw pic.twitter.com/7UyJ9xqfQu — London First (@London_First) 2 mars 2017 Migrant workers in London contribute an average of £46,000 each to the city’s economy every year, according to a study published on Thursday.
The study, from accounting firm Pricewaterhouse Coopers and the business lobby group London First, measured the impact of the UK capital’s 1.8 million foreign-born workers. It found that workers from outside the European Union made up 25 percent of London’s total workforce. Another 13 percent of the total workforce were born in the EU.
In total, foreign-born workers contribute £83 billion per year to the city’s economy, or 22 per cent of London’s Gross Value Added (GVA). Migrants also helped create jobs, the study found: every 10 migrant worker jobs supported four jobs in the overall economy, thanks to the additional value added to the economy, the study found.
Meanwhile, as more foreign-born people work in London, the city’s overall employment rate is also rising, at an average rate of about 2.3 per cent per year.
Author: Avner Davis
In total, foreign-born workers contribute £83 billion per year to the city’s economy, or 22 per cent of London’s Gross Value Added (GVA). Migrants also helped create jobs, the study found: every 10 migrant worker jobs supported four jobs in the overall economy, thanks to the additional value added to the economy, the study found.
Meanwhile, as more foreign-born people work in London, the city’s overall employment rate is also rising, at an average rate of about 2.3 per cent per year.
Today we release 'Facing Facts' a new, in-depth analysis of London's migrant workforce with @PwC_UK https://t.co/tnj0oJrvIC #MigrationFacts pic.twitter.com/DA9wY6jCBs
— London First (@London_First) March 2, 2017
Author: Avner Davis