Job Seekers – Office Employment (UK Edition) Tracker #7

Research evidence excerpt

Job Seekers – Office Employment (UK Edition) Tracker #7

nance 1,300

and Tech for the West End now above the data start point at (+57% and +20%, respectively), 1,2001,1001,000

where Tech makes up 1/4 of West End office tenants, according to Savills. Meanwhile, the City 900800

is the softer of the two markets, where Finance and Tech are still tracking (-44% & +6%) from 700600

400the data start point (Ex 2). Month-on-month, both indices were down across all 3 markets, at 500 300

an average of 7%. Overall Britain's unemployment rate was 4.9% in the three months to May,

slightly below economists' forecasts for it to rise to 5% according to Reuters. .

Source: ONS, Jefferies

AI Job demand: The UK has around 158,000 jobs involving direct AI activities across the expert,

specialist and implementer levels. This is projected to grow significantly to 3.9m jobs, or about Exhibit 4 - Ratio of AI Jobs to Total Postings -

London Overall

12% of the current UK workforce, by 2035. As such, demand for AI skills may outstrip the 21%

development of these skills (Gov.uk). As per Ex 4 & 5, it is a clear trend that AI-related jobs are 18%

making up a larger share of total postings, with London at c.15% and key European major at 15%

c.7%, which we think has played a part in the Tech index recovery. 12%

9%

CW Comeback: PwC UK has agreed 350k sq ft of new office space at One Eden in CW, with 6%

completion expected in the autumn this year. The decision follows an extensive review of 3%Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26

potential sites as the firm plans for an expected major refurbishment at Embankment Place .Source: LinkUp, Jefferies

from 2030, where 5,500 staff are currently located.

Private sector jobs market softening: Public sector payroll numbers are up 0.7% so far