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City Economic
Briefing
January 2016
City Economic Digest – January 2016
This report interprets and analyses a wide range of data and intelligence to (i) provide up to date,
comprehensive data relating to key performance indicators, (ii) create a clear and compelling narrative
identifying the key drivers of Birmingham’s economic growth and (iii) reflect the impact of a variety of
stakeholders and providers in contributing to growth. It is produced by the Regional Observatory as part of
Marketing Birmingham’s Service Level Agreement with Birmingham City Council.
Key headlines
While pace of the UK recovery has started to falter in the wake of a global economic slowdown Birmingham’s
performance has remained strong – and is forecast to be one of the UK’s strongest performing cities over the
next decade. This is being underpinned by:
•Continued healthy growth in new business start ups
•A further rise in house prices, reflecting a growing confidence in the city as a place to live and work (they
remain affordable, however - still 34% below the UK average and 76% below the London average
•The continuing strength of the automotive industry and its supply chain
•Record levels of inward investment – with new office construction at its highest for 13 years and a range of
significant infrastructure investments coming on stream
•Further strong growth in the visitor economy – with visitors up by 9%, expenditure up 12%, jobs up by 7%
between 2013 and 2014 and record hotel occupancy rates
Employment in the city is back above pre-recession levels, with the strongest growth in private sector
employment in the country.
There has been a healthy upturn in average pay levels and in unemployment in the city has fallen at a rate
twice the national average.
Youth unemployment, meanwhile, has fallen at a rate four times the national rate – in large part reflecting the
13 percentage point improvement in the proportion of the city’s young people achieving good GCSE grades
over the last decade
At the same time, however, there is still a pressing need to tackle the barriers to accessing employment still
faced by significant numbers of local residents - Birmingham’s employment rate has fallen over the last 12
months and the number of people who are ‘economically inactive’ (i.e. neither in employment or seeking
work) has risen.
Overview
The economy
1 Source: IMF
2 Source: SMMT
3 Source: Irwin Mitchell/CBRE UK Powerhouse projections 2015-2025
5.4%
2.4%
6.9%
1.0%
-1.2%
3.1%
3.4%
1.1%
6.1%
1.6%
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
7%
8%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Growth in nominal GVA
Birmingham UK
27.2%
19.2% 18.4% 17.6% 17.1% 17.1%
15.8%
0%
5%
10%
15%
20%
25%
30%
GVA growth projection 2015-2025
1 The economy
The global economy is seeing a slowdown in activity in the wake of a slowdown in China, rising interest rates in
the US and turmoil on financial markets which have seen oil prices plunge in recent months1.
While the UK economy has continued to expand, with the fourth quarter of 2015 the 12th successive quarter of
growth, growth of 2.2% for 2015 as a whole was markedly down on the 2.9% achieved in 2014. And while
there was healthy growth in service sector, manufacturing output fell for a fourth successive quarter.
2015 has been a particularly challenging year for manufacturers, with export activity hampered by the
continuing high value of Sterling. At the same time, however, trends vary widely within the sector. For example
the UK car market saw a 6.3% increase in registrations in 2015 – driven by strong consumer and business
confidence, new model launches, low inflation and the availability of attractive finance deals2.
Birmingham’s economy continues to recover
Birmingham’s economy grew by £2.4bn in the post-
recession period between 2009 and 2014, more than
any other regional city. While growth rates have
fluctuated year-on-year, the city’s economy
performed particularly well between 2012 and 2013,
when growth of 6.1% was well above the UK rate of
4.1% and the highest of any core city
And is forecast to be one of the strongest
performing UK cities over the next decade
Looking forward, meanwhile, Birmingham is forecast
to be the strongest performing city outside London
over the next decade with GVA growth of 19% over
the 2015-2025 period3.
Birmingham’s business base continues to grow
In 2013 there were more new business start ups in
Birmingham than there were failures – for the first
time since 2008 – and this has been repeated in
2014. There were 5,300 business births in 2014, 44%
up on the figure in 20104.
The upward trend in average house prices continues
In November 2015 the average house price in
Birmingham was £122,603 - a healthy 4% up on the
figure a year ago. While growth was lower than in
London, Bristol and Manchester it out-stripped that in
Liverpool, Sheffield, Leeds, Newcastle and
Nottingham, reflecting a growing confidence in the
city as a place to live and work.
Nevertheless house prices remain affordable relative
to other parts of the country – 34% below the UK
average and 76% below the London average.
The economy (cont.)
0
1,000
2,000
3,000
4,000
5,000
6,000
0
1,000
2,000
3,000
4,000
5,000
6,000
2009 2010 2011 2012 2013 2014
Business births and deaths in Birmingham - 5
year trend
Deaths of enterprises Births of new enterprises
1.1%
2.0%
2.3%
3.1%
4.2%
4.4%
4.7%
9.5%
11.0%
0% 2% 4% 6% 8% 10% 12%
Nottingham
Newcastle
Leeds
Sheffield
Liverpool
Birmingham
Manchester
Bristol
London
Average house price growth November 2014 -
November 2015
4 Source: ONS Business Demography
Investment
0
10
20
30
40
50
60
0
1,000
2,000
3,000
4,000
5,000
6,000
2010/11 2011/12 2012/13 2013/14 2014/15
Birmingham FDI trends
New jobs Safeguarded jobs Projects
Industry Projects
14/15
New Jobs
14/15
Automotive 8 999
Financial services 8 83
ICT/Digital 5 431
Machinery &
electrical equipment
4 217
Fabricated metal
products
4 53
Film, TV, music
production
3 12
Legal & accounting 2 64
Land transport,
logistics
2 50
Retail 2 30
Architectural,
engineering
consultancy
2 14
Employment agency 2 5
Other 11 61
Total 53 2,019
7 Source: Deloitte Birmingham Crane Survey
8 Source: Regional Observatory FDI database/UKTI
5 Source: Business Desk
6 Source: Emerging Trends in Real Estate® Europe 2016:
Beyond the Capital report, Urban Land Institute (ULI) and PwC
2 Investment Growth is being underpinned by buoyant
investment
The continuing strength of the UK automotive
industry is a key driver of the city’s economic growth.
JLR, for example, has seen its UK sales grow by a
record 22% in 2015 and has announced a £450
million investment to double the size of its engine
plant at i54 and a new logistics centre at Castle
Bromwich5 . Strong demand from UK car
manufacturers, the increased trend towards re-
shoring of supply chains and increased investment in
new product development, meanwhile, is
underpinning strong performance within the area’s
automotive components sector.
Birmingham’s office market is going from strength to
strength, ranking as the top UK city for investment
prospects in 2016 6. Significant new investors are
being attracted to the city – notably global bank HSBC
which is moving its retail division to the city - and
office construction in the city is at its highest level for
13 years, with nearly a million square feet of office
space under construction 7.
While Birmingham, along with a range of other
European regional centres, is seen as offering good
value for money for investors, growth is also being
driven by the significant and on-going investment in
the city’s infrastructure – notably the £600 million
refurbishment of New Street Station, the Grand
Central Shopping Centre, the runway extension at
Birmingham Airport, the new Midlands Metro and
the HS2 high-speed rail line to London scheduled to
open in 2026.
In 2014/15 53 overseas investment projects were
landed in Birmingham - the highest number of
projects received by Birmingham since records began
in 1991, and improves on the previous year’s record
high of 42. A total of 2,019 jobs were created - the
third year in a row that over 2,000 jobs have been
created by inward investment in the city 8 (for further
details see this quarter’s FDI supplement).
Visitor economy
9 Source: Visit England: ‘Beyond ‘staycation’ short break research
10 Source: STEAM economic impact model
11 Source: ONS International Passenger Survey
12 Source: STR Global
32.6 32.8 33.5 33.8 34.0 37.2
0
10
20
30
40
0
1
2
3
4
5
6
2009 2010 2011 2012 2013 2014
Millions
£billion
Birmingham visitor volume and value
Visitor numbers
(millions)
Economic
impact (£
billion)
30%
40%
50%
60%
70%
80%
90%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Birmingham hotel occupancy rates
2013 2014 2015
3 Visitor economy
Birmingham’s visitor economy is going from strength to strength
Tourism expenditure has also begun to recover. An added bonus, meanwhile is that the ‘staycation’
trend for that emerged during the recession, with consumers swapping overseas trips for domestic
ones, is expected to continue as they rediscover what the country has to offer and the improvements
that are being made to the quality and diversity of the tourism offer 9. These trends have been of
significant benefit to Birmingham and the wider area. For example in 2014 numbers of visitors to
Birmingham were up by 3.2 million (9%) on 2013, expenditure was up by £0.6 billion (12%) and jobs
supported by tourism were up by 4,700 (7%) 10.
The attraction of international visitors has been
another key driver of growth in visitor numbers and
expenditure. Over the 2010-2014 period the number
of in-bound visits to Birmingham grew at a rate of
27.5% - the third best among the English core cities -
and an increase in absolute terms of more than
200,000 is the highest by some margin 11. This has
been paralleled by a substantial growth of just under
300,000 (7.5%) in numbers of in-bound passenger
arrivals at Birmingham Airport between 2013 and
2014 and a further increase of 320,000 (8%) between
2014 and 2015.
These developments have also boosted the area’s
hotel market. In October 2015, for example, an
Occupancy Rate of 81% compared with a figure of
79% in 2014 and 74% in 2013 while Revenue per
Available Room of £54 compared with £48 in 2014
and £41 in 2013 12.
The hotel market has become particularly buoyant in
the final quarter of the year, benefitting from both
Major conferences (examples in recent years include
the Conservative & the Green Party Conferences and
the Life Conference - a premier event for professional
interested in life insurance) and key events and
festivals such as Birmingham’s annual Frankfurt
Christmas Market and Christmas Craft Fair which
stimulates spending on shopping, bars, cafes and
restaurants as well as overnight stays and tourism
over the festive period.
Labour market
 270,000 sq. m.
retail
4 Labour market Strongest growth in private sector employment in
the country
Between 2013 and 2014 the city saw the most
substantial job growth for more than a decade -
taking employment back above pre-recession levels.
The creation of some 22,500 net new private sector
jobs was the most of all of the English Core Cities 13.
This has been paralleled by growth of nearly 9% in
average pay levels in the city. This was higher than
any other Core City and double the increase in
Nottingham, its nearest rival 14.
And a sharp fall in unemployment – especially
among young people
There has been a 2.7 percentage point fall in the
city’s unemployment rate 15 in the 12 months to June
2015 – more than double the fall across the UK as a
whole 16. The unemployment rate for 18-24 year olds,
meanwhile, fell by more than 8 percentage points –
four times the reduction nationally.
With significant improvements in educational
attainment an important factor
The proportion of the city’s young people achieving 5
or more GCSEs at A*-C including maths and English
has risen by 13 percentage points over the last
decade - from 40% in 2004-5, which was well below
the national average, to 54% in 2014-15, well above
the national average.
At the same time, however, Birmingham’s
employment rate has fallen over the last 12 months
and the number of people who are ‘economically
inactive’ (i.e. neither in employment or seeking work)
has risen. This suggests that, despite an improving job
market, there is still a pressing need to tackle the
barriers to accessing employment still faced by
significant numbers of local residents.
13 Source: ONS Business Register & Employment Survey
14 Source: ONS Annual Survey of Hours & Earnings
15 Definition of the International Labour Organisation - people without
a job, wanting a job who have actively sought work in the last 4 weeks
and are available to start work in the next 2 weeks. Differs from the
Claimant Count which refers only to those claiming Job Seekers
Allowance
16 Source: ONS Annual Population Survey
440,000
450,000
460,000
470,000
480,000
490,000
500,000
2006 2007 2008 2009 2010 2011 2012 2013 2014
Employment in Birmingham - long term trend
8.9%
4.0% 4.0%
2.6% 2.6%
1.5%
0.4%
-2.9%-4%
-2%
0%
2%
4%
6%
8%
10%
Change in workplace-based median gross
annual pay 2014-2015
-0.4
2.7
-2.7
-8.1
1.2
-0.3
-1.2
-1.8
-10 -8 -6 -4 -2 0 2 4
In employment
Economically inactive
Unemployed (ILO definition)
18-24 year olds unemployed (ILO
definition)
Percentage point change
Trends in key labour market indicators: June
2014-June 2015 UK Birmingham
-5.0%
-5.1%
-2.1%
-2.1%
1.4%
-0.8%
0.7%
0.6%
2.5%
1.0%
-6%
-5%
-4%
-3%
-2%
-1%
0%
1%
2%
3%
05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15
Percentagepointgap
Proportion of pupils achieving 5+ GCSEs at A*-C
including maths and english - gap between
Birmingham and England average
Indicator Source Frequency Latest
data
Nominal GVA ONS Regional Accounts Annual 2013
FDI projects and jobs Regional Observatory Annual 2014/15
Business births and deaths ONS Business Demography Annual 2013
International trade HMRC Regional Trade Statistics Quarterly Q4 2014
Average house prices Land Registry Monthly Feb 2015
Employment ONS Business Register and
Employment Survey
Annual 2013
Median gross annual pay ONS Annual Survey of Hours and
Earnings
Annual 2014
Employment rate ONS Annual Population Survey Quarterly Dec 2014
ILO unemployment rate
Economic activity rate
ILO unemployment rate for 18-24 year
olds
Proportion of pupils achieving at least 5
GCSEs at A*-C including English and
Maths
Department for Education Annual 2013/14
Number of undergraduates studying
key subjects
Higher Education Statistics Authority Annual 2012/13
Proportion of the working age
population qualified to degree level or
above
ONS Annual Population Survey Quarterly Dec 2014
Glossary
4 Source: ONS Business Demography
Baskerville House
Centenary Square
Broad Street
Birmingham
B1 2ND

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City economic briefing jan16 final2

  • 2. City Economic Digest – January 2016 This report interprets and analyses a wide range of data and intelligence to (i) provide up to date, comprehensive data relating to key performance indicators, (ii) create a clear and compelling narrative identifying the key drivers of Birmingham’s economic growth and (iii) reflect the impact of a variety of stakeholders and providers in contributing to growth. It is produced by the Regional Observatory as part of Marketing Birmingham’s Service Level Agreement with Birmingham City Council. Key headlines While pace of the UK recovery has started to falter in the wake of a global economic slowdown Birmingham’s performance has remained strong – and is forecast to be one of the UK’s strongest performing cities over the next decade. This is being underpinned by: •Continued healthy growth in new business start ups •A further rise in house prices, reflecting a growing confidence in the city as a place to live and work (they remain affordable, however - still 34% below the UK average and 76% below the London average •The continuing strength of the automotive industry and its supply chain •Record levels of inward investment – with new office construction at its highest for 13 years and a range of significant infrastructure investments coming on stream •Further strong growth in the visitor economy – with visitors up by 9%, expenditure up 12%, jobs up by 7% between 2013 and 2014 and record hotel occupancy rates Employment in the city is back above pre-recession levels, with the strongest growth in private sector employment in the country. There has been a healthy upturn in average pay levels and in unemployment in the city has fallen at a rate twice the national average. Youth unemployment, meanwhile, has fallen at a rate four times the national rate – in large part reflecting the 13 percentage point improvement in the proportion of the city’s young people achieving good GCSE grades over the last decade At the same time, however, there is still a pressing need to tackle the barriers to accessing employment still faced by significant numbers of local residents - Birmingham’s employment rate has fallen over the last 12 months and the number of people who are ‘economically inactive’ (i.e. neither in employment or seeking work) has risen. Overview
  • 3. The economy 1 Source: IMF 2 Source: SMMT 3 Source: Irwin Mitchell/CBRE UK Powerhouse projections 2015-2025 5.4% 2.4% 6.9% 1.0% -1.2% 3.1% 3.4% 1.1% 6.1% 1.6% -2% -1% 0% 1% 2% 3% 4% 5% 6% 7% 8% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Growth in nominal GVA Birmingham UK 27.2% 19.2% 18.4% 17.6% 17.1% 17.1% 15.8% 0% 5% 10% 15% 20% 25% 30% GVA growth projection 2015-2025 1 The economy The global economy is seeing a slowdown in activity in the wake of a slowdown in China, rising interest rates in the US and turmoil on financial markets which have seen oil prices plunge in recent months1. While the UK economy has continued to expand, with the fourth quarter of 2015 the 12th successive quarter of growth, growth of 2.2% for 2015 as a whole was markedly down on the 2.9% achieved in 2014. And while there was healthy growth in service sector, manufacturing output fell for a fourth successive quarter. 2015 has been a particularly challenging year for manufacturers, with export activity hampered by the continuing high value of Sterling. At the same time, however, trends vary widely within the sector. For example the UK car market saw a 6.3% increase in registrations in 2015 – driven by strong consumer and business confidence, new model launches, low inflation and the availability of attractive finance deals2. Birmingham’s economy continues to recover Birmingham’s economy grew by £2.4bn in the post- recession period between 2009 and 2014, more than any other regional city. While growth rates have fluctuated year-on-year, the city’s economy performed particularly well between 2012 and 2013, when growth of 6.1% was well above the UK rate of 4.1% and the highest of any core city And is forecast to be one of the strongest performing UK cities over the next decade Looking forward, meanwhile, Birmingham is forecast to be the strongest performing city outside London over the next decade with GVA growth of 19% over the 2015-2025 period3.
  • 4. Birmingham’s business base continues to grow In 2013 there were more new business start ups in Birmingham than there were failures – for the first time since 2008 – and this has been repeated in 2014. There were 5,300 business births in 2014, 44% up on the figure in 20104. The upward trend in average house prices continues In November 2015 the average house price in Birmingham was £122,603 - a healthy 4% up on the figure a year ago. While growth was lower than in London, Bristol and Manchester it out-stripped that in Liverpool, Sheffield, Leeds, Newcastle and Nottingham, reflecting a growing confidence in the city as a place to live and work. Nevertheless house prices remain affordable relative to other parts of the country – 34% below the UK average and 76% below the London average. The economy (cont.) 0 1,000 2,000 3,000 4,000 5,000 6,000 0 1,000 2,000 3,000 4,000 5,000 6,000 2009 2010 2011 2012 2013 2014 Business births and deaths in Birmingham - 5 year trend Deaths of enterprises Births of new enterprises 1.1% 2.0% 2.3% 3.1% 4.2% 4.4% 4.7% 9.5% 11.0% 0% 2% 4% 6% 8% 10% 12% Nottingham Newcastle Leeds Sheffield Liverpool Birmingham Manchester Bristol London Average house price growth November 2014 - November 2015 4 Source: ONS Business Demography
  • 5. Investment 0 10 20 30 40 50 60 0 1,000 2,000 3,000 4,000 5,000 6,000 2010/11 2011/12 2012/13 2013/14 2014/15 Birmingham FDI trends New jobs Safeguarded jobs Projects Industry Projects 14/15 New Jobs 14/15 Automotive 8 999 Financial services 8 83 ICT/Digital 5 431 Machinery & electrical equipment 4 217 Fabricated metal products 4 53 Film, TV, music production 3 12 Legal & accounting 2 64 Land transport, logistics 2 50 Retail 2 30 Architectural, engineering consultancy 2 14 Employment agency 2 5 Other 11 61 Total 53 2,019 7 Source: Deloitte Birmingham Crane Survey 8 Source: Regional Observatory FDI database/UKTI 5 Source: Business Desk 6 Source: Emerging Trends in Real Estate® Europe 2016: Beyond the Capital report, Urban Land Institute (ULI) and PwC 2 Investment Growth is being underpinned by buoyant investment The continuing strength of the UK automotive industry is a key driver of the city’s economic growth. JLR, for example, has seen its UK sales grow by a record 22% in 2015 and has announced a £450 million investment to double the size of its engine plant at i54 and a new logistics centre at Castle Bromwich5 . Strong demand from UK car manufacturers, the increased trend towards re- shoring of supply chains and increased investment in new product development, meanwhile, is underpinning strong performance within the area’s automotive components sector. Birmingham’s office market is going from strength to strength, ranking as the top UK city for investment prospects in 2016 6. Significant new investors are being attracted to the city – notably global bank HSBC which is moving its retail division to the city - and office construction in the city is at its highest level for 13 years, with nearly a million square feet of office space under construction 7. While Birmingham, along with a range of other European regional centres, is seen as offering good value for money for investors, growth is also being driven by the significant and on-going investment in the city’s infrastructure – notably the £600 million refurbishment of New Street Station, the Grand Central Shopping Centre, the runway extension at Birmingham Airport, the new Midlands Metro and the HS2 high-speed rail line to London scheduled to open in 2026. In 2014/15 53 overseas investment projects were landed in Birmingham - the highest number of projects received by Birmingham since records began in 1991, and improves on the previous year’s record high of 42. A total of 2,019 jobs were created - the third year in a row that over 2,000 jobs have been created by inward investment in the city 8 (for further details see this quarter’s FDI supplement).
  • 6. Visitor economy 9 Source: Visit England: ‘Beyond ‘staycation’ short break research 10 Source: STEAM economic impact model 11 Source: ONS International Passenger Survey 12 Source: STR Global 32.6 32.8 33.5 33.8 34.0 37.2 0 10 20 30 40 0 1 2 3 4 5 6 2009 2010 2011 2012 2013 2014 Millions £billion Birmingham visitor volume and value Visitor numbers (millions) Economic impact (£ billion) 30% 40% 50% 60% 70% 80% 90% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Birmingham hotel occupancy rates 2013 2014 2015 3 Visitor economy Birmingham’s visitor economy is going from strength to strength Tourism expenditure has also begun to recover. An added bonus, meanwhile is that the ‘staycation’ trend for that emerged during the recession, with consumers swapping overseas trips for domestic ones, is expected to continue as they rediscover what the country has to offer and the improvements that are being made to the quality and diversity of the tourism offer 9. These trends have been of significant benefit to Birmingham and the wider area. For example in 2014 numbers of visitors to Birmingham were up by 3.2 million (9%) on 2013, expenditure was up by £0.6 billion (12%) and jobs supported by tourism were up by 4,700 (7%) 10. The attraction of international visitors has been another key driver of growth in visitor numbers and expenditure. Over the 2010-2014 period the number of in-bound visits to Birmingham grew at a rate of 27.5% - the third best among the English core cities - and an increase in absolute terms of more than 200,000 is the highest by some margin 11. This has been paralleled by a substantial growth of just under 300,000 (7.5%) in numbers of in-bound passenger arrivals at Birmingham Airport between 2013 and 2014 and a further increase of 320,000 (8%) between 2014 and 2015. These developments have also boosted the area’s hotel market. In October 2015, for example, an Occupancy Rate of 81% compared with a figure of 79% in 2014 and 74% in 2013 while Revenue per Available Room of £54 compared with £48 in 2014 and £41 in 2013 12. The hotel market has become particularly buoyant in the final quarter of the year, benefitting from both Major conferences (examples in recent years include the Conservative & the Green Party Conferences and the Life Conference - a premier event for professional interested in life insurance) and key events and festivals such as Birmingham’s annual Frankfurt Christmas Market and Christmas Craft Fair which stimulates spending on shopping, bars, cafes and restaurants as well as overnight stays and tourism over the festive period.
  • 7. Labour market  270,000 sq. m. retail 4 Labour market Strongest growth in private sector employment in the country Between 2013 and 2014 the city saw the most substantial job growth for more than a decade - taking employment back above pre-recession levels. The creation of some 22,500 net new private sector jobs was the most of all of the English Core Cities 13. This has been paralleled by growth of nearly 9% in average pay levels in the city. This was higher than any other Core City and double the increase in Nottingham, its nearest rival 14. And a sharp fall in unemployment – especially among young people There has been a 2.7 percentage point fall in the city’s unemployment rate 15 in the 12 months to June 2015 – more than double the fall across the UK as a whole 16. The unemployment rate for 18-24 year olds, meanwhile, fell by more than 8 percentage points – four times the reduction nationally. With significant improvements in educational attainment an important factor The proportion of the city’s young people achieving 5 or more GCSEs at A*-C including maths and English has risen by 13 percentage points over the last decade - from 40% in 2004-5, which was well below the national average, to 54% in 2014-15, well above the national average. At the same time, however, Birmingham’s employment rate has fallen over the last 12 months and the number of people who are ‘economically inactive’ (i.e. neither in employment or seeking work) has risen. This suggests that, despite an improving job market, there is still a pressing need to tackle the barriers to accessing employment still faced by significant numbers of local residents. 13 Source: ONS Business Register & Employment Survey 14 Source: ONS Annual Survey of Hours & Earnings 15 Definition of the International Labour Organisation - people without a job, wanting a job who have actively sought work in the last 4 weeks and are available to start work in the next 2 weeks. Differs from the Claimant Count which refers only to those claiming Job Seekers Allowance 16 Source: ONS Annual Population Survey 440,000 450,000 460,000 470,000 480,000 490,000 500,000 2006 2007 2008 2009 2010 2011 2012 2013 2014 Employment in Birmingham - long term trend 8.9% 4.0% 4.0% 2.6% 2.6% 1.5% 0.4% -2.9%-4% -2% 0% 2% 4% 6% 8% 10% Change in workplace-based median gross annual pay 2014-2015 -0.4 2.7 -2.7 -8.1 1.2 -0.3 -1.2 -1.8 -10 -8 -6 -4 -2 0 2 4 In employment Economically inactive Unemployed (ILO definition) 18-24 year olds unemployed (ILO definition) Percentage point change Trends in key labour market indicators: June 2014-June 2015 UK Birmingham -5.0% -5.1% -2.1% -2.1% 1.4% -0.8% 0.7% 0.6% 2.5% 1.0% -6% -5% -4% -3% -2% -1% 0% 1% 2% 3% 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 Percentagepointgap Proportion of pupils achieving 5+ GCSEs at A*-C including maths and english - gap between Birmingham and England average
  • 8.
  • 9. Indicator Source Frequency Latest data Nominal GVA ONS Regional Accounts Annual 2013 FDI projects and jobs Regional Observatory Annual 2014/15 Business births and deaths ONS Business Demography Annual 2013 International trade HMRC Regional Trade Statistics Quarterly Q4 2014 Average house prices Land Registry Monthly Feb 2015 Employment ONS Business Register and Employment Survey Annual 2013 Median gross annual pay ONS Annual Survey of Hours and Earnings Annual 2014 Employment rate ONS Annual Population Survey Quarterly Dec 2014 ILO unemployment rate Economic activity rate ILO unemployment rate for 18-24 year olds Proportion of pupils achieving at least 5 GCSEs at A*-C including English and Maths Department for Education Annual 2013/14 Number of undergraduates studying key subjects Higher Education Statistics Authority Annual 2012/13 Proportion of the working age population qualified to degree level or above ONS Annual Population Survey Quarterly Dec 2014 Glossary 4 Source: ONS Business Demography
  • 10. Baskerville House Centenary Square Broad Street Birmingham B1 2ND
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