Leicestershire Areaeconomic Profile

Leicestershire AreaEconomic Profile

The Information below provides an understanding of the different facets of the Leicestershirearea economy. Data has been drawn from national data sources. Brought together these provide a snapshot of the area.

Population

Population data has been accessed through ONS Census 2011.

Observations

The Leicestershire area has a population of 650,500. 17% of the population of Leicestershire are under 16, 18% 15 to 64 and the rest (65%) over 64. Leicestershire on average has an older population.

Using the ONS Annual Population Survey the estimated total population in 2015 was 675,300. The working age population make up 62.5% (422,200) of the total population.

Note: The working age population are those that are 16 to 64.

Qualifications

NVQ2

Data is taken from the ONS Annual Population Survey and relates to the period 2011 to 2015. The table demonstrates growth between the periods 2011 and 15, 2013 and 15 and the difference between local and national figures.

Observations

In the Leicestershirearea 77.5% of the working age population had an NVQ2 or above in 2015. In England the figure was 73.4% and in Leicester 62.3%.
Over the period 2011 to 2015 the number of those educated to NVQ2 and above grew by 11.2%. Growth over the period 2013 to 15was also positive (6.6%). In both cases growth was greater than average (England).

NVQ4

Observations

In the Leicestershire area in 201534.5%of the working age population had an NVQ4 and above. In England the figure was 36.8% and in Leicester28.8%.
In the Leicestershirearea over the period 2011 to 2015 the number of those educated to NVQ4 and above grew by 18.5%. In England there was growth of 14.8%. Over the period 2013 to 2015 there was growth of 6.8% in Leicestershire. In England there was growth of 6.2%. In both cases growth has been above average.

Employment

The information in the table below has been accessed through the Business Registration and Employment Survey and relates to the period 2011 to 2015. The table demonstrates share of employment by geography, as well as growth in employment by geography for the periods 2011 – 2015 and 2013 – 15.

Observations

In the Leicestershirearea in 2015 there was employment of 296,200. This is 63.5% of all employment in the Leicester and Leicestershire area.
Over the period 2011 to 2015 there was positiveemployment growth of21,800 (7.9%). Over the period 2013 – 15 there waspositivegrowth of15,800(or 5.6%).

Note: Figures have been rounded to the nearest 100.

Key Sector Employment

The data in the table below has been accessed through the Business Registration and Employment Survey (4 digit SIC codes) and relates to the period 2011 to 2015. The table demonstrates share of employment by key and other sectors, as well as growth in employment for the periods 2011 – 15 and 2013 – 15. Key sectors use those SIC codes identified in the Sector Growth Plans.

Observations

In 2015, 12.6% of the working age population were employed in transport and logistics. Transport and logistics over the period 2011 to 2015 saw growth in employment (4.5%).
The care, sports and physical activity tourism and hospitality and textile sectors saw falls in employment.
Over the same period professional and financial services saw employment growth of 45.5% and creative industries 100%.
Over the period 2013 – 15 theconstruction,the creative industries, food and drink manufacturing and professional and financial services all saw significant employment growth.

Note: Figures have been rounded to the nearest 100.

Occupational Structure

The information below is taken from the ONS Annual Population Survey and accessed through NOMIS. Data relates to the years 2011 - 15. Information is provided for the Leicestershire area and England only.

Observations

In the Leicestershire area47.6% of occupations were as managers, directors and senior officials, professional and technical occupations. This is higher thanthe average of 45.7%. There was also growth in these occupations over the period 2010 to 15. Again this was above average.
Over the period 2010 to 2015 administrative and secretarial occupations, skilled trade occupations, process plant and machine operatives and elementary occupations all saw falls in numbers.

Earnings

The information below provides an understanding of workplace and resident earnings. Data is gained from the Annual Survey of Hours and Earnings (ASHE) 2016 and demonstrates gross weekly pay at a national, local authority and district level. Data from ASHE is not available at a Local Enterprise Partnership area level.

Workplace Earnings

Observations

The England mean average workplace earnings in 2016 were £544.20. This is greater than Leicester (£487.60) and Leicestershire (£496.60). Earnings in Leicestershire in 2016 were £47.60 lower than average. In 2011 earnings were £39.60 lower.
Over the period 2011 – 16 England saw growth in gross weekly average pay of £40.20. In Leicestershire the figure was £26.70.

Resident Earnings

English mean average resident earnings in 2016 were £544.70. This is greater than Leicester (£436.10) and Leicestershire (£533.20).
The difference between England’s resident based earnings and Leicestershirein 2016 was £11.50(belowaverage). In 2011 earnings were £9 lower.
Resident earnings in Leicestershirebetween 2011 – 16grew by £37.50and between 2013 – 16£25. In England there was growth of £40 and £24.10.

Enterprises

The data in the table below is taken from the ONS UK Business Counts and covers the period 2011 – 16. The table also demonstrates growth in enterprises over the periods 2011 – 16 and 2013 – 16.

Observations

In 2016 there were 39,195 private sector enterprises in the LLEP area. Of these 72.1% (28,245) were in the County and the rest (27.9% or 10,950) were in the City.
Over the period 2011 – 16 the number of enterprises in the LLEP area grew by 7,665 (or 24.3%). A large proportion of this growth was over the period 2013 – 16 (6,315). In the Leicestershire areathere was growth of 4,735 (20.1%). As with the LLEP area a large proportion of the growth was between 2013 - 16 (3,950 or 16.3%).

Key Sector Enterprises

Using the same dataset an understanding of key and other sector enterprises can be sought. The table below provides an understanding of how many key sector enterprises there are in the Leicester area, the sectors share of all enterprises and growth over the period 2011 – 16 and 2013 - 16.

Observations

In 2016 22.9% of enterprises were in professional and financial services. Construction accounted for 10.5% and transport and logistics 10.1%.
Over the period 2011 to 16,5 of the sectors identified grew by over 30%, advanced manufacturing and engineering, care, the creative industries, food and drink manufacturing andprofessional and financial services.

Enterprise Births

The table below uses data taken from ONS Business Demography. Data covers the period 2011 to 2015. The table also demonstrates growth over the periods 2011 – 15 and 2013 – 15.

Source: Business Demography 2015,TABLE 1.1 - COUNT OF BIRTHS OF NEW ENTERPRISES for 2009 to 2015

Observations

In 2015 there were 5,295 enterprise births in the LLEP Area (3,380 were in the County and 1,915 in the City).
Over the period 2011 – 15 enterprise births in the LLEP area grew by 1,375 or 35.1%. In England there was growth of 48.1%. In Leicester there was growth of 54.4% and in the County 26.1%.

Business Survival Rates (3 Year)

The table below provides data relating to 3 year business survival rates for the years 2012 to 15. Survival rates are for those businesses started in 2009, 10, 11 and 12.

Source: Business Demography 2015, TABLE 5.1a - SURVIVAL OF NEWLY BORN ENTERPRISES

Observations

Over the period 2012 to 15, 3 year business survival rates grew in all but three of the geographical areas identified (England, Hinckley and Bosworth and Melton). However over the period 2013 to 2015 there has been negative growth in all but four of the areas identified (Charnwood, Harborough, Melton and North West Leicestershire).
At a county level the 3 year business survival rate in 2015 was greater (62.8%) than average (England 59.2%).

Author: Brendon Brockway (Leicester and Leicestershire Enterprise Partnership)