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
Lincolnshire - A Local Economic Assessment
Monthly Unemployment in Lincolnshire Analysis
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:
Quarterly Lincolnshire Economic Briefing
Latest News on the Local Economy
January 2014
Latest figures released by the Office for National Statistics (ONS) show that the number of people claiming Jobseekers Allowance in Lincolnshire in January 2014 stands at 12,617, an increase of 448 on December.
The increase in claimants meant Lincolnshire's unemployment rate increased by 0.1 percentage points to 2.9 per cent this month. However, compared to January last year there are 2,676 fewer claimants in Lincolnshire, a 17 per cent decrease in claimant numbers. Nationally, in England & Wales there was a small increase in claimants this month, with its unemployment rate increasing by 0.1 percentage points to 3.0 per cent, again well down on last year.(Some news outlets are reporting a 15th consecutive national decrease in JSA claimants this month. Those figures are for the UK and seasonally adjusted, to remove any seasonal trend components).
- Twelve temporary and four permanent vacancies filled as a retail unit expands in Lincoln.
- Twelve new jobs will be created when a Lincoln pet store's £271,000 makeover is unveiled in March.
- Proposals for a new food store in Grantham could create 50 full and part-time jobs.
- Convenience store in Market Rasen is projected to safeguard 15 jobs and to create a further five.