AMIDST all the doom and gloom descending upon the capital’s economy this winter it’s reassuring to learn that Londoners still top the nation’s pay league.
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Workers in London earn fifty per cent more than the national average according to a new report by the GMB Union. Londoners in full time employment receive average salaries of £46,000, while the UK average is just over £31,000.
However London’s comfortable advantage could be under threat through 2009. The capital’s strong showing is boosted by those working in the City of London where average take home pay comes in at £82,000. The City’s financial services sector is expected to see one of the biggest cut backs in overall employment next year which could lead to a narrowing of the pay gap between London and the rest of the nation.