The most up-to-date information on London's economy, published by email every month. Each issue includes an overview of current economic conditions, the latest indicators and a supplement on a significant issue facing London. Additional data from the latest edition of London’s Economy Today can be found here on the Datastore. Sign up to receive London's Economy Today every month. HOUSING INDICATORS The Land Registry house price index (Quarterly since 1968). Land Registry data External link LABOUR MARKET INDICATORS The unemployment rate. (Monthly since Q2 1992) The unemployment rate measures the proportion of the economically active population (those in work plus those seeking and available to work) who were unemployed. Seasonally Adjusted. TRANSPORT INDICATORS London Underground Journeys (Monthly since 2006) including moving average and annual rate of growth Bus Journeys (Monthly since 2006) including moving average and annual rate of growth

As London looks ahead to a skills devolution deal, the capital has ambitions to create an adult skills system that is more responsive to the needs of the local economy. This work reflects on the area based review which will shape the future of the Further Education sector in London. Analysis by GLA Economics sets out what drives London’s economy, and what this means for future skills needs. In this series of papers we analyse the demand for jobs and skills to inform the Government’s area reviews of post-16 education and training, covering four London sub-regions (working papers 76-79). Thanks to London’s excellent transport links, the job opportunities available to learners are wider than a particular sub-region. The 2011 Census shows that less than half of all workers in London (48%) live in the same sub-regional area as their place of work. This calls for a broader, pan-London view (working paper 75). https://www.london.gov.uk/business-and-economy-publications/skills-londons-economy

This paper summarises the latest evidence and analysis on the impacts of COVID-19 on London’s economy so far and on the economic outlook so that key actors and stakeholders engaged in responding to the pandemic can have a readily available evidence base to inform policy responses.

The main aim of this work is to develop a set of high level macro economic scenarios for the medium-term (to the end of 2022) and for the long-term (to 2030) in order to inform the development of recovery strategies in London, reflecting unprecedented uncertainty on the economic outlook. The primary scenario dimensions include Effectiveness/nature of public health response and Effectiveness/impact of economic support measures. Other scenario dimensions include: Brexit and migration; International economic context; Technology and innovation; Financial climate; Political economy; Economic Geography and GHG emissions. This is an agile project - GLA Economics will continue to track actual data in order to review the assessment of the likelihood of alternative scenario outcomes. Successive updates will be released when they become available for the benefit of external stakeholders in tackling the COVID-19 crisis.

London’s Economic Outlook is GLA Economics’ London forecast. The forecasts are issued every six months to assist those preparing planning projections for London in the medium term. The report contains the following:

• An overview of recent economic conditions in London, the UK and the world economies with analysis of important events, trends and risks to short and medium-term growth.
• The ‘consensus forecast’ – a review of independent forecasts indicating the range of views about London’s economy and the possible upside and downside risk. In this context, ‘consensus forecast’ refers to the average of the independent forecasters (Cambridge Econometrics, The Centre for Economic and Business Research, Experian Economics, and Oxford Economics)
• The GLA Economics forecast for output, employment, household expenditure and household income in London.

Provided below are links to the current and previous versions of GLA Economics' medium term forecast for the level and growth rate of London's GVA, employment, household income and household expenditure. Forecasts for the growth and level of employment and GVA for selected sectors of the economy are also included.

• All output variables are measured in terms of output at basic prices. The price base for the latest dataset is 2011.
• All growth rates are in percentage change per annum.
• All employment levels are in millions.
• All output levels are in £bn.

As London looks ahead to a skills devolution deal, the capital has ambitions to create an adult skills system that is more responsive to the needs of the local economy. This work reflects on the area based review which will shape the future of the Further Education sector in London. Analysis by GLA Economics sets out what drives London’s economy, and what this means for future skills needs. In this series of papers we analyse the demand for jobs and skills to inform the Government’s area reviews of post-16 education and training, covering four London sub-regions (working papers 76-79). Thanks to London’s excellent transport links, the job opportunities available to learners are wider than a particular sub-region. The 2011 Census shows that less than half of all workers in London (48%) live in the same sub-regional area as their place of work. This calls for a broader, pan-London view (working paper 75). https://www.london.gov.uk/business-and-economy-publications/skills-londons-economy

•GLA Economics has produced long-run projections of London’s employment since 2002. These projections are trend based and set out the long run path of employment considered most likely based on the historic data available at the time of construction. These are used within the GLA for planning to provide capacity to accommodate the longer-terms needs of the London economy. Given their importance to GLA policy planning, this note looks at how the GLA Economics’ employment projections have performed since 2002 and how this compares to projections from some other respected organisations. •Although GLA Economics’ employment projections are consistently below outturn, much of this is the result of upward revisions to historic employment data (which underpin the projections model). Further, the projections perform relatively well when looking at the projected annual growth rate and average annual error in relation to outturn, with the accuracy of the projections generally improving the longer the time period over which the estimates are analysed. •The revisions to historic employment data also drive much of the variability in the GLA Economics’ employment projections numbers over time. However, and by design, the revised projections are relatively consistent over time and average revisions between iterations in GLA Economics employment projections are relatively small.

In 2023, London had a gross domestic product of over 569 billion British pounds, by far the most of any region of the United Kingdom. The region of South East England which surrounds London had the second-highest GDP in this year, at over 360 billion pounds. North West England, which includes the major cities of Manchester and Liverpool, had the third-largest GDP among UK regions, at almost 250 billion pounds. Levelling Up the UK London’s economic dominance of the UK can clearly be seen when compared to the other regions of the country. In terms of GDP per capita, the gap between London and the rest of the country is striking, standing at over 63,600 pounds per person in the UK capital, compared with just over 37,100 pounds in the rest of the country. To address the economic imbalance, successive UK governments have tried to implement "levelling-up policies", which aim to boost investment and productivity in neglected areas of the country. The success of these programs going forward may depend on their scale, as it will likely take high levels of investment to reverse economic neglect regions have faced in the recent past. Overall UK GDP The gross domestic product for the whole of the United Kingdom amounted to 2.56 trillion British pounds in 2024. During this year, GDP grew by 0.9 percent, following a growth rate of 0.4 percent in 2023. Due to the overall population of the UK growing faster than the economy, however, GDP per capita in the UK fell in both 2023 and 2024. Nevertheless, the UK remains one of the world’s biggest economies, with just five countries (the United States, China, Japan, Germany, and India) having larger economies. It is it likely that several other countries will overtake the UK economy in the coming years, with Indonesia, Brazil, Russia, and Mexico all expected to have larger economies than Britain by 2050.

In 2023, the gross domestic product of London was approximately *** billion British pounds, compared with *** billion pounds in 2022.

The London IO tables provide an overview of activity across sectors and key aggregates (production, consumption and expenditure) as well as the interlinkages between sectors and London’s trade (with the rest of the UK, the EU and the rest of the world). The IO tables are product x product rather than industry x industry. The data is for the product definition of sectors, and sector coverage aligns with the 2014 London Business Survey. See https://data.london.gov.uk/gla-economics/london-business-survey-2014/ Explanation of the content of the tables, applications of their use, and details on the methodology are available here: https://www.london.gov.uk/business-and-economy-publications/london-input-output-tables

Annual estimates of balanced UK regional gross domestic product (GDP). Current price estimates and chained volume measures for local authority districts, London boroughs, unitary authorities and Scottish Council areas.

A London series by industry and a borough series (no industry) 1984 to 2011.

These data have been used by GLA Economics to forecast long-term employment projections and within GLA Economics' models for exports, tourism and life sciences. The two series are:

1. London Employment Jobs: a London level series which includes Employee Jobs and Self-Employment Jobs from 1984 to 2010 with industries by GLA Economics sectors on a SIC 2007 basis

2. A borough level Employee Jobs series 1984 to 2010 (no industry breakdown)

Methods and assumptions behind the data are explained in the GLA Economics Working Paper 52

Data Download

Notes

Borough Data

1. Source: ONS Employee Jobs, ONS Business Surveys, GLA Economics assumptions
2. Data are for employees and do not include self-employment jobs
3. Data are adjusted for series discontinuities only - no additional corrections have been made
4. 1998 data for Richmond and 2000 data for Greenwich where employee increases are high have not been adjusted

Sector Data

1. Source: ONS Employee Jobs, LFS, GLA Economics assumptions

• 2010 data are provisional

1. Data include employees and self-employment jobs

This page presents a labour market analysis related to each of the Mayor of London’s priority sectors. Each report explores a different economic sector in detail by bringing together data from a wide-range of sources. An FAQ guide has also been published alongside these reports to help users navigate their contents. When using outputs from this analysis it is important to be aware of the following caveats: The analysis is not intended to be fully comprehensive or exhaustive. It is a snapshot analysis of key data as it pertains to each sector in London. The data presented here reflects the information available at the time of publication. However, as the dataset relies on external sources, it may be subject to updates or revisions as new information becomes available or corrections are made by the original data providers. Users are encouraged to verify the data periodically for the latest version. Due to limitations in data collection methods or reporting frameworks, some aspects of the dataset may reflect biases or gaps inherent to the original data sources. The analysis does not represent the full body of evidence on which Mayoral Policies are, or will be, based. Outputs should be triangulated with other sources of information and analysis to develop a more rounded statistical and contextualised picture of any specific policy issues.

In 2023, the gross domestic product per capita in London was 63,618 British pounds, compared with 37,135 pounds per capita for the United Kingdom as a whole. Apart from London, the only other region of the UK that had a greater GDP per capita than the UK average was South East England, at 38,004 pounds per capita. By contrast, North East England had the lowest GDP per capita among UK regions, at 26,347 pounds. Regional imbalance in the UK economy? London's overall GDP in 2022 was over 508 billion British pounds, which accounted for almost a quarter of the overall GDP of the United Kingdom. South East England had the second-largest regional economy in the country, with a GDP of almost 341.7 billion British pounds. Furthermore, these two regions were the only ones that had higher levels of productivity (as measured by output per hour worked) than the UK average. While recent governments have recognized regional inequality as a major challenge facing the country, it may take several years for any initiatives to bear fruit. The creation of regional metro mayors across England is one of the earliest attempts at giving regions and cities in particular more power over spending in their regions than they currently have. UK economy growth slow in late 2024 After ending 2023 with two quarters of negative growth, the UK economy grew at the reasonable rate of 0.8 percent and 0.4 percent in the first and second quarters of the year. This was, however, followed by zero growth in the third quarter, and by just 0.1 percent in the last quarter of the year. Other economic indicators, such as the inflation rate, fell within the expected range in 2024, but have started to rise again, with a rate of three percent recorded in January 2025. While unemployment has witnessed a slight uptick since 2022, it is still at quite low levels compared with previous years.

Through reading this publication you will:

• gain an understanding of how house prices are set in economics terms, how they are measured, and why the cost of housing matters for London’s economy and its residents

• see whether incomes and earnings in London have kept pace with the costs of home ownership in London, and see how affordability may be affected by future changes in interest rates

• find out about the drivers of demand for residential property in London, and how the supply of homes has responded to changing conditions

This is a summary report on the economic impact of COVID-19 on London’s small and medium enterprises (SMEs). It presents a uniquely granular and timely analysis of the impacts on London’s SMEs by sectoral, financial, employment, and risk indicators and includes deep dive case studies on the economic impact on the Night Time Economy, high streets and town centres, and the Culture and Creative industries. The analysis was undertaken on a pro bono basis by Bloomberg Associates, for and in close collaboration with the GLA providing guidance and direction. Partners supporting Bloomberg Associates included Slalom, Burning Glass Technologies, DueDil and CK Delta. It leverages a combination of public and private data from a range of financial, economic, behavioural, sociographic and demographic sources and complements the macro-economic scenarios for the London economy. The study was conducted between March 2020 and June 2020 and leverages the most updated data that was available at the time. It is important to note that new data and evidence constantly emerges and could be integrated in a potential future iteration of this work. The report has sought to: Illustrate the impact of the pandemic on London’s SMEs and local employment and improve understanding of the scale and scope of the economic challenges that London faces in recovery. Demonstrate the application of “bottom-up” and localised data to create a more complete, granular picture of overall economic impact Show the intersection of impact by sectors and geographies, exploring the relationship between these two factors to demonstrate the risk hot spots across Greater London. If you have any comments or questions related to the report, please email GLA Economics

Unemployment Rate in New London County, CT was 2.60% in December of 2024, according to the United States Federal Reserve. Historically, Unemployment Rate in New London County, CT reached a record high of 17.50 in May of 2020 and a record low of 1.50 in December of 2000. Trading Economics provides the current actual value, an historical data chart and related indicators for Unemployment Rate in New London County, CT - last updated from the United States Federal Reserve on December of 2025.

London Stock Exchange reported GBP779.45B in Current Assets for its fiscal semester ending in June of 2025. Data for London Stock Exchange | LSE - Current Assets including historical, tables and charts were last updated by Trading Economics this last December in 2025.

More Detailed Jobs This dataset provides estimates of employee jobs in London down to 4-digit Standard Industry Classification level, from 1998 to 2022. The latest release was in July 2024 - see the related blog post. Estimates are based on Business Register and Employment Survey (BRES) and Workforce Jobs (WFJ) data published by the Office for National Statistics (ONS). The underlying assumptions are outlined in the methodology paper published alongside these data tables. Note that the 2014 and 2015 updates were republished (in March 2018) following additional disclosure checking.

GLA Economics produces long-term employment projections for London by sector and by borough. The methodology in the accompanying report explains the approach adopted.

Links to the 2022 employment projections (latest, interim update)

• Borough projections
• Sector projections
• London labour market projections report

Links to previous employment projections

Provided below are links to the previous versions of GLA Economics’ employment projections, with breakdowns of the numbers (historic and projected) available by sector and by local authority.

2017

• Borough projections, 1971-2050
• Sector projections, 1971-2050
• London projections of scenarios
• London labour market projections report

2016

• Borough Projections, 1971-2041
• Sector Projections, 1971-2041
• London labour market projections report

2015

• Borough [trend-based only], 1981-2036
• Sector, 1984-2036
• Working paper 67

2013

• Borough, 1984-2036
• Sector, 1984-2036
• London labour market projections report

2011

• Borough [trend-based only, data excludes self-employed], 1981-2036
• Sector, 1984-2036
• Working paper 51

2009

• <a href="https://data.london.gov.uk/download/1edc3fa8-ce43-488a-9d6b-8dba432a53ea/fdc905ac-bf95-4956-b77a-6c197b1be1fd/employment-projections-borough-2009.csv" target="_blank"