He sais in about half of the Vid that Stuttgart had an incredible amount of industrial work all around and now suffers from tax revenue losses, incredible incredibly.
He himself also drops that this is wrong, without getting it, because he manages to point these jobs down to two car manufacturers of which both are in the luxerious field producing nothing for the majority of mankind.
All other jobs all around from cleaning companies to small time restaurants exist because these companies have a lot of management located in town and the area with a lot of connected engineering companies and profits were so good that even the assembly line workers could afford a different lifestyle than most other factory workers and spend incredible amounts on their gardening flowers, clothing, cinema and music habbits.
As a matter of fact is there only one town with an even less diverse tax revenue structure and that would be London with the The City of London creating all together ...
To determine the total number of jobs linked to the banking sector in Greater London, including direct employment and indirect "chain effects" (e.g., supporting industries, services, and induced economic activity), the available data from the search results provides insights but does not explicitly quantify the full multiplier effect. Here's a synthesis of the relevant information:
### **Direct Employment in Banking and Financial Services**
1. **Financial Services Jobs in London**:
- As of Q1 2024, the UK financial services sector employed **1.17 million people nationwide**, with approximately **half of the sector’s economic output** concentrated in London. This suggests around **585,000 financial services jobs in London**, though this includes broader roles beyond banking (e.g., insurance, accounting, consulting, and technology) .
- A 2023 report highlighted that **315,000 people** were employed in the City of London across financial services, including banking, tech, and consulting. However, only **1,000 net new jobs** in "monetary intermediation" (banking-specific roles) were added between 2019 and 2023, indicating banking is a smaller subset of this total .
2. **Banking Vacancies in 2024**:
- Greater London is projected to hold **48% of UK banking vacancies** in 2024, amounting to **14,964 vacancies** (up 2% from 2023) . While vacancies reflect open roles rather than total employment, this signals London’s dominance in banking recruitment.
---
### **Indirect and Induced Employment (Chain Effects)**
The search results do not provide specific multipliers for banking-related chain effects in London. However, general economic principles suggest that sectors like banking generate indirect jobs (e.g., IT, legal services, hospitality) and induced jobs (from employee spending). For context:
- The UK financial services sector contributed **£208.2 billion (8.8%) to the UK economy** in 2023, with London generating half of this output .
- A study by the City of London Corporation estimated the broader financial sector’s tax contribution at **£79.3 billion** in 2022/23, reflecting its extensive economic footprint .
---
### **Challenges in Estimation**
- **Data Gaps**: None of the sources specify the exact multiplier effect (e.g., 1 direct job creating X indirect jobs) for London’s banking sector.
- **Sector Overlaps**: Banking roles are often conflated with broader financial services in reports (e.g., tech roles in banks are counted under "financial services" rather than strictly "banking") .
---
### **Conclusion**
Based on available data:
- **Direct banking jobs** in Greater London likely number in the **tens of thousands**, though exact figures are not isolated in the sources.
- Including **indirect and induced employment**, the total could be significantly higher, but this requires extrapolation beyond the provided data.
- For perspective, **financial services as a whole** support nearly **585,000 jobs in London**, with banking being a critical component .
For precise figures, further data on regional banking employment and sector-specific multipliers would be needed. The UK government or industry bodies like UK Finance or the City of London Corporation may publish more detailed analyses.
### **Direct Employment in Banking and Financial Services**
1. **Financial Services Jobs in London**:
- As of Q1 2024, the UK financial services sector employed **1.17 million people nationwide**, with approximately **half of the sector’s economic output** concentrated in London. This suggests around **585,000 financial services jobs in London**, though this includes broader roles beyond banking (e.g., insurance, accounting, consulting, and technology) .
- A 2023 report highlighted that **315,000 people** were employed in the City of London across financial services, including banking, tech, and consulting. However, only **1,000 net new jobs** in "monetary intermediation" (banking-specific roles) were added between 2019 and 2023, indicating banking is a smaller subset of this total .
2. **Banking Vacancies in 2024**:
- Greater London is projected to hold **48% of UK banking vacancies** in 2024, amounting to **14,964 vacancies** (up 2% from 2023) . While vacancies reflect open roles rather than total employment, this signals London’s dominance in banking recruitment.
---
### **Indirect and Induced Employment (Chain Effects)**
The search results do not provide specific multipliers for banking-related chain effects in London. However, general economic principles suggest that sectors like banking generate indirect jobs (e.g., IT, legal services, hospitality) and induced jobs (from employee spending). For context:
- The UK financial services sector contributed **£208.2 billion (8.8%) to the UK economy** in 2023, with London generating half of this output .
- A study by the City of London Corporation estimated the broader financial sector’s tax contribution at **£79.3 billion** in 2022/23, reflecting its extensive economic footprint .
---
### **Challenges in Estimation**
- **Data Gaps**: None of the sources specify the exact multiplier effect (e.g., 1 direct job creating X indirect jobs) for London’s banking sector.
- **Sector Overlaps**: Banking roles are often conflated with broader financial services in reports (e.g., tech roles in banks are counted under "financial services" rather than strictly "banking") .
---
### **Conclusion**
Based on available data:
- **Direct banking jobs** in Greater London likely number in the **tens of thousands**, though exact figures are not isolated in the sources.
- Including **indirect and induced employment**, the total could be significantly higher, but this requires extrapolation beyond the provided data.
- For perspective, **financial services as a whole** support nearly **585,000 jobs in London**, with banking being a critical component .
For precise figures, further data on regional banking employment and sector-specific multipliers would be needed. The UK government or industry bodies like UK Finance or the City of London Corporation may publish more detailed analyses.
That is an educated: "I don't know, but its a lot" or if this was an honest world: "So many car repair, fish'n'chips and what not depend on those working in and from financial services, we go all 9 million broke if that crashes badly"
