The City of London is a small, historic area that is the original core of London. It has maintained consistent boundaries since the Middle Ages and covers about one square mile. The City is now the primary financial center of both London and the UK, hosting over 300,000 workers in the financial sector. Though only around 10,000 people live there, it remains a major global financial hub on par with New York City. The City has its own local government and is not one of London's 32 boroughs.