Member Article

Londoners have ‘more than double’ the disposable income of average UK resident

London has the highest Gross Domestic Household Income (GDHI) per head, with the average person in the 4 highest local areas in the city having more than double the disposable income of the average UK resident in 2013 (£17,559).

According to a report by the Office of National Statistics (ONS), the four areas were Westminster, at £43,477; Kensington & Chelsea and Hammersmith & Fulham, at £42,116; Camden and City of London, at £37,324; and Wandsworth, at £35,734.

The highest growth in GDHI per head in the capital in 2013 was seen in Kensington & Chelsea and Hammersmith & Fulham, at 3.7%, followed by Westminster, at 3.2%. By contrast, all of the local areas in the East and North East of Outer London decreased by between 2.6% and 3.8%.

The South East makes up a 15.5% of GDHI, with London maintaining poll position with 16.8%.

In 2013, the number of births of businesses exceeded the number of deaths of businesses in all English regions, Wales and Scotland. London had the highest business birth rate at 17.9%, followed by the North East (14.7%) and North West (14.7%).

Unemployment rates decreased and employment rates increased in all 4 countries between quarter 4 (October to December) 2012 and quarter 4 (October to December) 2013.

The largest increases in employment rates were observed in Wales and Scotland and in the South East of England.

The unemployment rates in Wales and the South East experienced the largest decrease during this period.

This was posted in Bdaily's Members' News section by Ellen Forster .