Oadby and Wigston Areaeconomic Profile

Oadby and Wigston AreaEconomic Profile

The Information below provides an understanding of the different facets of the Oadby and Wigstonarea 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 Oadby and Wigston area has a population of 56,200. On average the population of those under 15 is lower (16%) than average (England 19%), while the population of those that are over 64 is higher (21%) than average (England 16%). The population of those that are 15 – 64 is 2% lower than average (63% versus 65%).

Using the ONS Annual Population Survey the estimated total population in 2015 was 55,800. The working age population make up 61.5% (34,300) 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 Oadby and Wigstonarea 78.3% of the working age population had an NVQ2 or above in 2015. In England the figure was 73.4%. In Leicester the figure was 62.3% and Leicestershire 77.5%.
Over the period 2011 to 2015 the number of those educated to NVQ2 and above grew by 8.7%. Growth over the period 2013 to 15 in the Oadby and Wigstonarea was also positive (1.9%).

NVQ4

Observations

In the Oadby and Wigston area in 201534.4% of the working age population had an NVQ4 and above. In England the figure was 36.8%. In Leicester the figure was 28.8% and Leicestershire 34.5%.
In the Oadby and Wigstonarea over the period 2011 to 2015 the number of those educated to NVQ4 and above grew by 10.6%. In England there was growth of 14.8%. Over the period 2013 to 2015 the Oadby and Wigston area saw negative growth of 9.4% (the highest fall). In England there was growth of 6.2%.

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 Oadby and Wigstonarea in 2015 there was employment of 17,900. This is 6% of all employment in Leicestershire.
Over the period 2011 to 2015 there was negative employment growth of1,200 (6.2%). Over the period 2013 – 15 there wasnegative growth of 100(or 0.8%).

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, 8.1% of the working age population were employed in care and 13.7% in transport and logistics.
Over the period 2011 – 15there was significant growth in the creative industries and transport and logistics.
Over the period 2013 – 15 professional and financial services and textiles saw falls in employment.

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 Oadby and Wigston area and England only.

Observations

In the Oadby and Wigstonarea 37.2% of occupations were as managers, directors and senior officials, professional and technical occupations. This is over 8 percentage points below the national average of 45.7%.
Over the period 2010 to 2015 all occupations saw falls in their numbers.
Over the period 2012 to 2015 associate professional and technical occupations, process plant and machine operatives and elementary occupations saw growth.

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). Oadby and Wigston areaworkplace earnings were £444.10 (the lowest). This is £100.10 below the English average.
Over the period 2011 – 16 England saw growth in gross weekly average pay of £40.20. In Leicester the figures was £23.20 and Leicestershire £26.70. In the Oadby and Wigston area there was growth of £53.40. This is higher than all of the other areas identified above (except Harborough).

Resident Earnings

English mean average resident earnings in 2016 were £544.70. This is greater than Leicester (£436.10) and Leicestershire (£533.20). In the Oadby and Wigstonarea the median average resident earnings in 2015 were £460 (thelowest in the County).
The difference between England’s resident based earnings and Oadby and Wigstonsin 2016 was £84.70 (belowaverage).
Resident earnings in Oadby and Wigstonbetween 2011 – 16fellby £27.60 and between 2013 – 16earnings fell by £19.50. 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. In the Oadby and Wigstonarea there were1,900 businesses. This is 6.7% of all business in Leicestershire.
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 Oadby and Wigston areathere was growth of 430 (29.3%). As with the LLEP area a large proportion of the growth was between 2013 - 16 (340 or 21.8%).

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 Oadby and Wigston area, the sectors share of all enterprises and growth over the period 2011 – 16 and 2013 - 16.

Observations

From 2013 to 2016 the textile sector experienced negative growth in the number of enterprises. The number of enterprises fell by 40%.
In 2016 20.5% of enterprises were in professional and financial services, 12.6% in construction and 10% in transport and logistics.
Over the period 2011 and 2016 there as enterprise growth in all sectors identified with 6 of these having growth of over 40%.

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 2014 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%.
In the Oadby and Wigston area there were 275 enterprise births in 2015. Over the period 2011 – 15the number of enterprise births grew by 55 or25%.

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 3 year business survival rates in 2015 were greater (62.8%) than average (England 59.2%). At a city level, Leicester’s 3 year business survival rate (56.3%) was below average.
In the Oadby and Wigston areathe business survival rate grew from 53.1% in 2012 to63.3% in 2015. This is growth of 9.9 percentage points. This is the largestgrowth over the period.

Author: Brendon Brockway (Leicester and Leicestershire Enterprise Partnership)