Recession to hit London harder than regions

London is set to be hit hardest by the recession, with 370,000 jobs likely to be lost in the capital by the end of 2010, according to a report.

The report by the Local Government Association (LGA) predicts more than 1.7 million jobs will be lost over the next two years across the country, but warns that the impact will vary from region to region. While 7.9 per cent of jobs could be lost in London, other areas, such as the north-east (5.7 per cent) and south-west (5.1 per cent), will fare much better.