At EMSI we are always working to provide the most accurate and relevant data as soon as it comes out. As part of this goal, we recently released our 2015.1 dataset. Among the new data included in this release was the historical data for 2014. This article will be the first in a series looking at this data and seeing what we can learn from the past year and how we can apply these lessons to the future.
As has already been seen in this article, 2014 was a terrific year for job growth with over 777,000 new jobs created across Britain — growth of almost 2.1%. However when you dig a little deeper and look at the regional variations, the start of an interesting story occurs:
|Region||2013 Jobs||2014 Jobs||% Change|
|Source: EMSI Covered Employment - 2015.1|
|East of England||2,559,200||2,639,787||3.10%|
|Yorkshire and the Humber||2,277,707||2,310,754||1.50%|
What this shows is that while the nation as a whole grew at 2.1%, there were significant regional variations. It may come as a surprise to some, but the fastest growing region was the North West which grew at double the national rate, and 0.6% faster than London.
There are two things that make this data significant. The first is that the growth is not limited to one or two built-up areas of the North West. Were this the case, it might be possible to see it as the movement of businesses from London and the South East to the North West in search of cheaper office space. Instead, you can clearly see that all areas of the North West are growing at well above the national average:
The second piece of information which makes this data even more interesting is when you look at population demographics for the North West compared to the nation as a whole. Even though the North West is growing in jobs at more than double the rate of the country, as a whole its population growth has been half the national average over the past five years (2% compared to a national average of 3.9%). Given that this figure includes people relocating for work, it would seem to indicate that the job growth has not all come from external relocation.
So if this job growth is not only faster than the national average, but also not reducible merely to the relocation of head offices then what industries are responsible? In the table below, we can see the top eight fastest growing industries in the North West, which between them make up roughly 1/3 of all job growth in the region:
There are a couple of very noteworthy points to be gleaned from this. The first is the rise in Growing of crops, market gardening, horticulture; Farming of animals, which although the fourth largest growth occupation in terms of numbers, was proportionately the fastest growing, with 36% more jobs in 2014 than in 2013. However, rather than dealing with this somewhat surprising figure in this piece, we hope to deal with it in a separate article shortly.
The other major area of interest is the rise in professional services — Accounting, bookkeeping and auditing activities; tax consultancy; Business and other management consultancy activities; Engineering activities and related technical consultancy; and Legal activities. All four of these sectors have grown far faster than the national average, but what is most important, especially for education providers, is that each of these industries employ a wide variety of different occupations within them, some of them degree level and others requiring training which can be provided by local colleges. Below is a staffing pattern showing the top occupations employed in these four industries:
|Occupation||Employed in Industry Group (2013)||Employed in Industry Group (2014)||Change (2013 - 2014)||Education Level|
|Source: EMSI Covered Employment - 2015.1|
|Book-keepers, payroll managers and wages clerks||16,520||19,087||2,567||Level 2|
|Chartered and certified accountants||11,850||13,698||1,848||Level 6|
|Management consultants and business analysts||7,183||8,122||939||Level 6|
|Legal secretaries||6,846||7,434||588||Level 3|
|Legal associate professionals||6,355||7,052||697||Level 6|
|Other administrative occupations n.e.c.||5,957||6,960||1,003||Level 2|
|Personal assistants and other secretaries||4,810||5,557||747||Level 2|
|Financial managers and directors||3,742||4,341||599||Level 6|
|Financial accounts managers||3,433||4,018||585||Level 6|
|Sales accounts and business development managers||3,413||3,985||572||Level 6|
This kind of information, which identifies the areas of growth and needs, could form a crucial basis for education institutions in the North West, as they seek to meet the skills needs of their area. In the next article we will look at the data for the North East and see if the picture of job decline is necessarily all negative, or rather something institutions might use to their and their region’s advantage.
For more details on our data, contact Andy Durman at email@example.com