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Financial services sector could create 15,000 Yorkshire jobs

A new report from PwC has suggested that many thousands of new jobs could be created by the financial services sector in Yorkshire and Humberside by 2020.

The report, “Where next? Assessing the current and future contribution of the UK financial services sector”, contains analysis which shows around 218,000 more jobs could be created in the wider UK economy and approximately 47,000 additional jobs in the sector by 2020.

The regional breakdown states that Yorkshire and Humberside’s share of these jobs would be 15,100.

Gary Shaw, financial services director at PwC in Leeds, commented: “Our financial services industry has a critical role to play in growing the economy, both in the Yorkshire and across the UK as a whole.

“Across our region, the existence of one of the largest financial services sectors outside of London with a strong focus on insurance and building societies, clearly demonstrates our ongoing ability to attract high quality players and that we are ‘open for business’.

“We need to maintain this momentum and showcase these successes more. The links between financial services sector and other sectors are also strong.

“A well-functioning industry not only provides credit but creates demand in other sectors, helps improves the flow of capital and, as our report shows, can also act as a multiplier effect, with the potential to create over 15,000 private sector jobs across Yorkshire and Humberside alone.”

This was posted in Bdaily's Members' News section by Mark Lane .