overview of the south west the south west labour market
TRANSCRIPT
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Overview of the South West
The South West Labour Market
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KEY TRENDS – ECONOMIC ACTIVITY
What are the key trends in economic activity?
High employment, a high number of jobs per working age resident and relatively self-contained
Over-representation of employment in certain sectors
Low levels of unemployment and long-term unemployment
Full-time earnings are below the national average
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KEY TRENDS – EMPLOYMENTWorking age employment rate, by region, 2003 & 2004
62
64
66
68
70
72
74
76
78
80
EastMidlands
Eastern London North East NorthWest
South East SouthWest
WestMidlands
Yorkshire& the
Humber
Em
ploy
men
t rat
e
2003 2004 England average (03 & 04)
Source: ONS, NOMIS data service, 2006
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KEY TRENDS – EMPLOYMENT
Working age employment rate in the South West, 2003 & 2004
Source: ONS, NOMIS data service, 2006
66
68
70
72
74
76
78
80
82
84
86
Bat
h &
NE
Som
Bou
rnem
outh
Bris
tol
Cor
nwal
l & Io
S
Dev
on
Dor
set
Glo
uces
ters
hire
Nor
th S
omer
set
Ply
mou
th
Poo
le
Som
erse
t
Sou
th G
louc
Sw
indo
n
Tor
bay
Wilt
shire
Em
ploy
men
t rat
e
2003 2004 England average (03 & 04) South West average (03 & 04)
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KEY TRENDS – SECTORAL EMPLOYMENT
Employment by industry, South West & England, 2004
0.0 5.0 10.0 15.0 20.0 25.0
Other community/social
Health & social w ork
Education
Public admin & defence
Real estate/renting
Financial intermediation
Transport & comms
Hotels & restaurants
Wholesale/retail/motor
Construction
Utilities
Manufacturing
Mining & quarrying
Agriculture
Percentage of employment
England South West
Source: APS, ONS, NOMIS data service 2006.
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KEY TRENDS – OCCUPATIONAL EMPLOYMENT
Employment by occupation, South West & England, 2004
0.0 5.0 10.0 15.0 20.0
Other f lexibility
Elementary occs
Plant & machine ops
Sales & cust service
Personal service
Skilled trades
Admin & secretarial
Associate prof & tech
Professional occs
Managers & senior
% of employment
South West
England
Source: APS, ONS, NOMIS data service 2006.
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KEY TRENDS – UNEMPLOYMENT
Trends in unemployment rates, South West & England
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
1999 2000 2001 2002 2003 2004
Une
mpl
oym
ent r
ate
England South West
Source: APS, ONS, NOMIS data service.
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KEY TRENDS – OUTPUT & PRODUCTIVITY
What are the key trends in output &productivity?
Low productivity and large divide between the north and the south/west of the region
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KEY TRENDS – OUTPUT
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
Year
Tota
l GV
A (
£bn)
L
NE
SW
EM
WM
ENW
SE
Y&H
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KEY TRENDS – OUTPUT
GVA at basic prices per head & indexed (UK=100), by region 2003
0
5,000
10,000
15,000
20,000
25,000
UK England East EastMids
London NorthEast
NorthWest
SouthEast
SouthWest
WestMids
Yorks &Humb
GV
A p
er h
ead
(£)
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
GV
A p
er h
ead
Inde
x
GVA per head (£) GVA per head Index (UK=100)
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KEY TRENDS – PRODUCTIVITY
GVA per hour worked, indexed (UK=100) by region, 1998 – 2004
1998 1999 2000 2001 2002 2003 2004
East Midlands 95.0 93.9 94.8 96.6 97.1 96.8 98.5
East of England 100.6 98.7 98.6 97.9 98.6 100.8 101.2
London 119.1 116.6 117.6 116.1 117.5 116.7 118.8
North East 94.6 95.7 94.9 98.1 94.9 93.9 93.6
North West 95.1 94.6 94.0 94.2 93.0 92.5 92.5
South East 104.1 105.4 106.3 106.0 105.2 107.2 105.5
South West 94.3 95.8 98.1 96.5 95.9 97.0 95.1
West Midlands 91.0 93.6 93.5 94.5 93.7 93.8 94.0
Yorkshire & the Humber 93.4 94.1 94.1 94.7 93.0 92.2 91.4
England 100.8 100.8 101.0 101.2 101.2 101.3 101.3
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KEY TRENDS – ECONOMIC ACTIVITY
What are the key trends in population &migration?
One of the smallest regions in population terms
Oldest age profile of all regions
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BUSINESSES IN THE REGION
What are the key trends in terms of business
generation, enterprise & innovation?
High rate of business generation
Above average R&D expenditure but expenditure by HE is low
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SMALL BUSINESSES IN THE REGION
Enterprises in the South West, 2003
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EMPLOYER VACANCIES
What are the trends in employer vacancies?
High proportion of hard-to-fill vacancies
Lowest proportion of skills-related hard-to-fill vacancies and a low proportion of employers reporting skills gaps
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TURNOVER & REDUNDANCIES
Labour Turnover
High degree of labour market flexibility
Redundancies
One of the lowest redundancy rates in the UK
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SKILLS & LEARNING
Participation
High staying on rates for young people
High adult participation in learning
Qualifications
Highly qualified workforce
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SKILLS FOR LIFE
Skills for Life
Proportion of adults with literacy needs below the national average
Those with numeracy problems above the national average
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SOUTH WEST LABOUR MARKET
The Good News:
• A high degree of labour demand
• A well qualified workforce
• Efficient and equitable functioning between the demand and supply sides of the market.
• On these indicators, this region appears to be more “healthy” than any other region with the exception of the South East.
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SOUTH WEST LABOUR MARKET
The Bad News:
• A low-skills equilibrium
• Productivity is low, and lower than one would expect given the region’s highly qualified workforce
• Employers report few skills gaps within their workforces
• Markedly differing fortunes across the region. Low output per head, low earning levels and relatively high unemployment dominate the picture for the far west of the region