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) today show that the number of people claiming Jobseekers Allowance in Lincolnshire in August 2015 was 6,901, another small decrease of 93 people compared to July. The total is down by 21 per cent compared to this time last year, and once more is the lowest total for this month in a decade.
The relatively small drop in claimant numbers in Lincolnshire has resulted in the claimant rate remaining at 1.6 per cent in August 2015, the third consecutive month at this figure. The rate nationally fell by 0.1 per cent, meaning both Lincolnshire and the national rate stand at 1.6 per cent. We would expect to see the unemployment rate rise slightly next month as we head out of the summer, with the decrease in short term seasonal jobs, particularly on the coast.
- A new store is set for Bourne, bringing around 40 jobs to the area.
- In Boston, a new motorcycle shop and warehouse is set to bring up to 50 jobs to the area.
- A delivery firm have announced a new distribution centre at Network46 near Witham St Hughes, potentially bringing 90 shops to the area.