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Finance and professional services jobs growing faster in East of England than in London

TheCityUK says London is still the hotspot for finanial industry jobs - but the regions are catching up. Picture: Getty Images/iStockphoto

TheCityUK says London is still the hotspot for finanial industry jobs - but the regions are catching up. Picture: Getty Images/iStockphoto

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The number of people working in finance and related professional services has grown faster in the East of England than in London over the past year, according to a study.

Research by TheCityUK shows the number working in the industries in the region soared by 7.1% from 155,000 to 166,000, compared with growth of 5.2% in the capital.

It said there are 13,255 people working in financial and professional services in Norwich and 7,675 in Ipswich, with insurance the predominant sector in both places.

The ‘Enabling Growth across the UK 2018’ report shows that in the East of England the financial and professional services industry contributed £9.9bn to the regional economy in 2016.

One in 14 people in the UK is estimated to be employed in ‘City jobs’ in financial and related professional services. While one third of jobs are still London-based, regional clusters are on the rise.

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