Mayor backs business services to drive jobs

MAYOR Richard Parker is backing the region’s business and financial services sector to create thousands more well-paid jobs for local people under his plans to reignite the West Midlands economy.

- STAFF REPORTER

The region already has the UK’s biggest business, professional, and financial services (BPFS) sector outside London boasting 48,000 firms employing more than 342,000 people.

Of those around 178,000 are jobs in high value services like banking, legal, accountancy, insurance, and fintech.

The Mayor's recently launched Growth Plan puts a particular focus on helping to create even more such jobs.

People working in the region’s financial services sector command an average salary of £79,466 according to recruitment company Reed.co.uk but even across the wider BPFS sector average salaries are around £45,000 - 21% above the UK average wage of £37,430.

“Our booming business, professional and finance sector is a real West Midlands success story but we can never be complacent and must be at the forefront of the new technologies sweeping the industry.

“My Growth Plan sets out how we will future-proof and continue to grow this sector so we can create thousands more well-paid jobs that people can build their futures around.