Southampton Economic Assessment 2017

JSNA LogoIn the wake of the EU referendum result and its potential implications for the economy, it’s no surprise that the government is placing renewed focus on driving growth. The government has emphasised that no cities or regions should be left behind when it comes to local growth. This together with a potential move towards 100% business rate retention for local authorities, reinforces the need for a more place-based industrial strategy. This requires leaders from the public and private sectors across a place to develop a clear vision for growth, based on good local data and intelligence, to foster sustainable, long term prosperity. Growth is also critical in order to improve outcomes for local people; ‘Southampton has strong and sustainable economic growth’ is one of the four key outcomes which make up the vision in the 2016-2020 Southampton City Council Strategy. In addition, ‘Economic growth with social responsibility’ is one of the three key priorities in the 2015-2025 Southampton City Strategy, a partnership strategy which sets out the vision for the whole city.

There have been a number of reports on the local economy in recent times, but most focus on the Hampshire Economic Area or the Southampton Travel to Work Area (TTWA). Although the findings of these reports provide an indication of the direction of travel, they are not specific to Southampton. There therefore continues to be a need for specific intelligence on the Southampton economy to compliment wider regional analyses and to help drive strategic decision making on economic development. The Southampton Economic Assessment is intended to provide a baseline as to the strength of the Southampton economy, based on the administrative boundary of the local authority. It considers productivity and growth, business and enterprise, the job market, employment, skills and earnings. The full report, individual chapters, presentation slides and the data that informed the assessment can be downloaded below.

Downloads

Economic Assessment Presentation - February 2018 update (PowerPoint 15.5mb)

Economic data compendium - March 2018 (xlsx 3.5mb)

Southampton Economic Assessment September 2017 FINAL (pdf 4mb)

Individual chapters

1. Background (pdf 453kb)

2. Context (pdf 529kb)

3. Productivity and growth (pdf 928kb)

4. Business and enterprise in Southampton (pdf 1.2mb)

5. Employees jobs in Southampton (pdf 1.2mb)

6. Labour market (pdf 1mb)

7. Skills and qualifications (pdf 757kb)

8. Earnings and economic flows (pdf 1mb)

Appendices: tartan rugs (pdf 428kb)

Improving Economic Wellbeing

JSNA LogoDeprivation is a significant issue in Southampton and is a wider determinant of health outcomes. The economic recession is having a marked impact and the average weekly wages are low compared to the rest of the South East.

More information on Economic Wellbeing