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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

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:

Latest News on the Local Economy

June 2014

Latest figures released by the Office for National Statistics (ONS) show that the number of people claiming Jobseekers Allowance in Lincolnshire in June 2014 is 9,712, a decrease of 853 on May.

The decrease in claimants meant Lincolnshire's unemployment rate went down by 0.2 percentage points to 2.2 per cent this month.  There are now 3,541 fewer claimants in Lincolnshire than in June last year, a 27 per cent decrease in claimant numbers. Lincolnshire’s June 2014 total of 9,712 claimants is also the lowest June total since 2008, and the lowest monthly total since October 2008.

  • New clothes store in Lincoln has created over twenty-five new jobs in a mix of full and part time positions.
  • Five jobs at risk in Lincoln as a popular retail chain goes into administration
  • Multi-million pound aquarium on Skegness seafront could pave the way for new jobs

Toolkits


Lincolnshire Economic Assessment Toolkit


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

Unemployment in Lincolnshire Quick Reference Toolkit Analysis of the latest unemployment claimant count data

Unemployment in Lincolnshire Monthly Information Sheet Overview of the latest unemployment claimant count data

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

Area Profiles