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Economy

The Importance of the Economy

In light of the credit crunch, ensuing recession, and subsequent economic downturn and protracted uncertainty, the poor performance of national and global economies has become headline news after years of growth and prosperity.

With the shift towards localism under the coalition government, there is an increasing need for local service providers to make a difference despite some of the global drivers of local economic change. To do this, they need to have a clear picture of what is going on in their economy.

The Economic Briefing reports on the latest survey of local businesses and provides an up to date snapshot of the local economic climate.

There are various and numerous sources of economic and labour market information produced by many different organisations and they vary in terms of their timeliness and accuracy. This can cause confusion as to what these sources actually show about the performance of the local economy and potentially could mean that businesses and individuals are not getting the support they need.

Economic Data, Information and Intelligence

There is a vast array of resources on the Lincolnshire Research Observatory website that provide information on the economy.

Lincolnshire's Economy

To understand the Lincolnshire economy, in addition to the data listed below, refer to the following:

Gross Value Added in Lincolnshire

National Economy

The main aim of the economy theme page is to provide users with the data and tools to understand the local economy at a county and sub-county level, although in many cases, national level data is provided as well for comparison purposes. For a comprehensive list of national economic data available on the Office for National Statistics website.

The Labour Market in Lincolnshire

More about Lincolnshire’s labour market including information on vacancies, economic activity levels, recruitment, earnings, skills levels, and skills gaps:

Local Labour Market Overview

Employer Skills Survey 2009 Summary Report

Local Businesses

For information about Lincolnshire's businesses:

Latest News on the Local Economy

February 2015

Latest figures released by the Office for National Statistics (ONS) today show that the number of people claiming Jobseekers Allowance in Lincolnshire in February 2015 was 8,932, an increase of just 4 people on January. The total is down by 3,875 compared to this time last year and is the lowest total for February since 2008.

The minimal movement in claimant numbers means that in Lincolnshire the claimant rate for February 2015 remains at 2 per cent. This small increase in claimant numbers has also been observed nationally with the unemployment rate for England & Wales also remaining at 2 per cent.

  • A recycling company in Hemswell Cliff is in the midst of a restructure which has put 44 job roles at risk of redundancy.
  • A vegetable grower and supplier announced 250 jobs were under threat at its site near Boston.
  • Up to 50 jobs will be created at a new care home planned in Lincoln.
      

 

    Toolkits


    ONS Gross Domestic Household Income Interactive Map


    ONS Gross Domestic Household Income Interactive Motion Chart


    ONS Location Quotients by Industry Interactive Map
    Please note that the source data used (the Business Register and Employment Survey) does not cover agriculture.

    Reports

    Lincolnshire - A Local Economic Assessment Provides a clear understanding of the county's economy

    Local Labour Market Overview 2012 Monitors and explains trends in the Local Labour Market

    Gross Value Added in Lincolnshire Key measure of economic performance based on 2010 regional and 2009 sub regional GVA figures

    Gross Domestic Household Income information sheet GDHI measures the amount of money individuals have left for saving after expenditure associated with income

    Data

    See the main economic indicators at the bottom of this page

    Interactive mapping and data analysis

    More Information

    For the latest data and information on the national economy visit the ONS Economy Page

    ONS interactive guide to business data

    ONS interactive map of Earnings variation across Great Britain

    Area Profiles