The threat to jobs from the global credit crunch will spread wider than the City of London financial district and could affect many regions across Britain, economists said on Wednesday.

Consultancy Oxford Economics said areas with high levels of employment in banking, banking-related services, construction, retail and car sales were most at risk.

It identified Chester, Bournemouth and Calderdale as among its top six most exposed regions after the City of London and the neighbouring London borough of Tower Hamlets.

"When many people think of the credit crunch they automatically think of the City of London and Canary Wharf," said Oxford Economics Director of Regional Services Neil Gibson.

"But, while these centres are undoubtedly vulnerable, many parts of the country are now heavily reliant on financial services."

"Most financial services companies are likely to be subject to cost cutting pressures and natural reductions in jobs at best over the next twelve months.

"In addition, the knock-on effects on business services and construction and the anticipated retail slowdown will affect many areas".

The study found that many big cities outside London were relatively well insulated from the credit crunch fallout because they had a mix of employers from different sectors.

But some smaller areas depending on one or two major financial employers were at greater risk.

The top ten local authorities with jobs most at risk were listed by Oxford Economics as follows:

1 - City of London; 2 - Tower Hamlets; 3 - Chester; 4 - Bournemouth; 5 - City of Westminster; 6 - Calderdale; 7 - Kensington and Chelsea; 8 - Blaby; 9 - Macclesfield; 10 - Milton Keynes.