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 July 2015 was 6,994, a small decrease of 83 people compared to June. The total is down by 25 per cent compared to this time last year, and is the first time the claimant total has dropped below 7,000 for a decade.
The relatively small drop in claimant numbers means that in Lincolnshire the claimant rate remains at 1.6 per cent in July 2015. This was also the case nationally, where the rate remained at 1.7 per cent. Lincolnshire's rate of unemployment therefore remains below the national rate.
- Up to 85 new jobs will be created as part of a plan to expand a manufacturing company in Hemswell Cliff.
- Lincoln based design-print company has expanded creating new jobs in the area
- 10 units in Gainsborough have been filled with new businesses.