The English capital probably exceeds other nations’ capitals in its diversity, with an estimated twenty-five percent of the population below the age of twenty-five. While Brexit has obviously introduced an element of uncertainty regarding the employment landscape, London has remained compellingly attractive to young professionals, despite numerous challenges. This is not surprising considering London’s robust reputation as a global economic powerhouse and financial hub.
While employment of young professionals is higher in some sectors, there seems to be a determined governmental intent to drive nationwide growth. In the interregnum, sectors such as entertainment, distribution, hotels and restaurants, sports and culture are expected to experience faster short-term growth according to an Ernst & Young Foundation report published in 2016.
As with any city facing such challenges, there are discernible trends.
Wealth Distribution Across Communities
Having grown up and acquired education and exposure, young people are now conscious of the wealth disparities across communities or boroughs. While these posed no issues while growing up, they are now wondering if they can live in those same areas while maintaining their focus on their aspirations. A fluid movement to and among more upscale areas of the city will be a result of this feeling.
Unprecedented Ethnic Diversity
As earlier mentioned, the youth population constitutes about twenty-five percent of London’s population. This can only grow and at an accelerated pace in tandem with the increasing ethnic diversity. Tremendous opportunities arise from this development especially as millennials expect a response from various service providers in public and corporate spaces.
Undeniably one of London’s major challenges, accommodation has kept the government on its toes. Expectations of the millennial generation have continued to place a growing demand on the city’s authorities. As more young professionals join the teeming workforce, companies are coming up with solutions such as providing cheap hostels in London to meet this demand. This option is going a long way in meeting the accommodation shortfall.
Living and working in London may constitute a challenge to a young professional but its opportunities far outweigh the pitfalls. Considering the UK’s lower rate of youth unemployment compared with other EU states, London will continue to attract and support young professionals in the foreseeable future.