London’s Mayor Sadiq Khan has promised to create over 150,000 new high-paying jobs within the city by 2028 in a new London Growth Plan.
Sectors like AI, health tech and life sciences were all named to be targets for growth.
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Alongside Shadow Chancellor Rachel Reeves, Khan has stated that these jobs will be created by securing investment towards small and medium sized businesses in central and outer London.
Additional funding will also be requested from the government to collaborate with private sector companies to help people from low-income backgrounds into high-paying jobs.
“London has so much more potential that can be tapped – not only for the benefit of our capital city, but the whole country,” stated Sadiq Khan, who clarified that the plan would be developed with cooperation from trade unions, councils and businesses.
The news coincides with research from employment website Indeed that suggested 3 in 4 UK businesses had trouble hiring in the last five years.
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By GlobalDataOut of over 1000 hiring professionals surveyed, Indeed found that over 60% stated that a lack of quality candidates was their biggest problem when hiring.
Derek Mackenzie, CEO of recruitment agency Investigo, stated that it was promising to see Khan prioritising London’s job market.
However, Mackenzie stated the importance of businesses also taking action to empower job seekers by offering training programmes, flexible working and career mentoring.
“Businesses must also play their part… Especially in core focus areas such as AI and cyber, businesses need highly skilled staff to oversee innovation and growth,” stated Mackenzie.
“In fact, our recent Tech and the Boardroom research highlighted cyber as the biggest talent pain point for businesses with 38 per cent struggling to hire in this area,” he said, “Therefore, businesses must put the foundations in place to support staff, helping to place them in teams where they can succeed, while nurturing their skillsets to enable them to thrive.”
Sadiq Khan will face another Mayoral election on 2 May.
