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.
To understand the Lincolnshire economy, in addition to the data listed below, refer to the following:
Gross Value Added in Lincolnshire
Lincolnshire - A Local Economic Assessment
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
For information about Lincolnshire's businesses:
Quarterly Lincolnshire Economic Briefing
Latest News on the Local Economy
Latest figures released by the Office for National Statistics (ONS) show that the number of people claiming Jobseekers Allowance in Lincolnshire in October 2015 was 6,702, an increase of 43 people compared to September. The total is down by 22 per cent compared to this time last year, and is the first increase in unemployment in the county for 7 months.
The increase is negligible in terms of rates, with Lincolnshire's claimant rate remaining at 1.5 per cent. This slight increase was not representative of the national picture, where there was a small decrease in claimants between September and October, although the national rate remained at 1.6 per cent. If we look at the component changes in claimants at a district level, we can see the seasonal impacts on the labour market. This is particularly evident in East Lindsey, where the majority of Lincolnshire's claimant increases have been observed this month, with all other districts except for Lincoln seeing decreases in claimants. We would expect to see further decreases into the winter months, particularly in coastal and agricultural areas.
- A £1m expansion of a lincoln security firm will bring new jobs into the newly renovated offices on Whisby Way.
- A recent report has shown that South Kesteven has one of the highest retail unit occupancy rates in the country, with 95 per cent of units full.
- Lincolnshire's largest cycle shop has opened at Doddington Hall near Lincoln.