<p><span><span><span><span lang="EN-US"><span><span>Financial service encompasses a wide variety of operations including banking, insurance and&nbsp;investing. It acts as a conduit between borrowers and savers. Financial services industry assists people and corporations, and provides guidance on how they can maximize their money.</span></span></span></span></span></span></p>

<p><span><span><span><strong><span lang="EN-US"><span><span>Economic Output</span></span></span></strong></span></span></span></p>

<p><span><span><span><span lang="EN-US"><span><span>In 2019, £131.9 billion has been contributed to the UK economy by financial services, accounting for 6.9% of total output. It was ranked as the eighth largest industry when compared with the total economic output. This industry has contributed 6.3% to the UK economy in 2019, dropping from an all-time high of 8.4% in 2009.</span></span></span></span></span></span></p>

<p><span><span><span><strong><span lang="EN-US"><span><span>Employment in financial services</span></span></span></strong></span></span></span></p>

<p><span><span><span><span lang="EN-US"><span><span>In the UK, </span></span></span><span lang="EN-US"><span>the financial<span> service sector </span>provided<span> 1.1 million jobs which are 3.2% of total jobs. The employment within the sectors has been relatively stable for the last several years, but has seen to be decreasing by a percent since 1990’s; however, the overall economy has risen through other jobs.</span></span></span></span></span></span></p>

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