Black Country Annual Economic Review 2018 May 2018
The Black Country Economy continues to Grow Source: Office for National Statistics, Regional Accounts, 2017 2
3 3
Business stock in the Black Country is at its highest since 2004 Black Country Business Base 40,000 35,000 30,000 25,000 Businesses 20,000 15,000 10,000 5,000 0 2004 2006 2008 2010 2012 2014 2016 Source: ONS Business Demography, 2016 4
Business starts reach the highest level since 2004 Black Country England 27 Business Births Per 10,000 Population Source: ONS Business Demography, 2016 5
Wages are up Source: ONS Annual Survey of Hours and Earnings (Resident Analysis), 2017 6
446,500 Jobs within the Black Country Source: Business Register and Employment Survey, 2017 7
PEOPLE - Raising Employability, Education and Skills 8
Population continues to rise +3 Source: ONS Population Estimates, 2014 Source: Population Estimates, 2017
The number of people claiming key out of work benefits at its lowest level for more than a decade
BLACK COUNTRY 31 Above 59 Below
The proportion of people with no qualifications has decreased Source: Annual Population Survey, Jan-Dec 2017
The proportion of people educated to NVQ4 or above has increased Source: Office for National Statistics, Annual Population Survey, Jan-Dec 2017
Apprenticeship starts in the Black Country 13,570 2016/17 APPRENTICESHIPS 13,570 2016/17 APPRENTICESHIPS 13,570 2016/17 APPRENTICESHIPS 13,570 2016/17 APPRENTICESHIPS 13,570 2016/17 APPRENTICESHIPS 5,000 GROWTH DEAL 5,000 GROWTH DEAL 5,000 GROWTH DEAL 5,000 GROWTH DEAL 1,500 SKILLS FACTORY 1,500 SKILLS FACTORY 1,500 SKILLS FACTORY 500 LA LEVY CONTRIBUTION 500 LA LEVY CONTRIBUTION 2,400 APPRENTICESHIP GAP *OF WHICH 900 POTENTIALLY FROM BUSINESS LEVY 2030 Target: 23,000 APPRENTICESHIPS 2030 Target: 23,000 APPRENTICESHIPS 2030 Target: 23,000 APPRENTICESHIPS 2030 Target: 23,000 APPRENTICESHIPS 2030 Target: 23,000 APPRENTICESHIPS 2030 Target: 23,000 APPRENTICESHIPS 14
The proportion of NEETs in the Black Country is lower than the national average England 2016 – 2.8% Source: NEET data by Local Authority, Department for Education, 2016
PLACE -Transforming the Black Country Infrastructure and Environment 16
Building for the Future ❖ Over 2,500 new homes ❖ Garden City ❖ 40,000+ homes in Pipeline ❖ £6bn+ Investment 17
Significant Investment in Transport Infrastructure Motorways & Roads - £560m Investment Rail - £648m Investment Metro Extension - £743m Investment 18
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