Protective services sector leads London job growth

Police and emergency services are among the sectors in London that have shown the most growth over the past five years, according to a study.

Protective service occupations in the capital saw 12.3 percent total real growth since 2019, research by venture capital group Oxford Capital found.

These jobs reported a total real growth of £5,514, four times more than other, elementary occupations, which have a reported real growth of £1,171.

The sector includes careers such as police offices, firefighters, paramedics and first line responders.

In London, these jobs saw a 3.4 per cent mean annual pay increase in 2023, and a 1.7 per cent rise in real wages that year.

Caring and personal services jobs came in second, with 8.9 percent total real growth over five years.

They were followed by elementary administration and service occupations, on 7.7 per cent; professional roles on 7.3 per cent; and caring, leisure and service jobs on 6.8 per cent.

Growth sectors ‘investment targets’

Mark Bower-Easton, head of distribution at venture capital group Oxford Capital, said: “As the government seeks to support growth amidst inflationary pressures and cost-of-living challenges, high-growth sectors become pivotal investment targets.

“For instance, sectors with strong real wage growth and consistent pay increases demonstrate resilience in maintaining purchasing power, even during economic uncertainty.

“This resilience is especially appealing for investors looking for long-term stability and profitability.”

He added: “The metrics of total real growth and mean annual pay increases highlight sectors with the potential for sustained demand and talent attraction – key indicators of a healthy trajectory.

“For investors, these factors suggest not only immediate growth but also robust potential for returns in the longer term, despite regulatory or market changes. 

“Together, these factors allow investors to identify sectors that can adapt to new economic realities and policy adjustments, which is vital in an evolving UK economy.”

The remaining sectors were elementary occupations, which saw 6.4 per cent growth over five years; corporate managers and directors on 6.3 per cent; business, media and public services, on six per cent; teaching and education, on 4.9 per cent; and science, research, engineering and technology on 4.4 per cent.