Region resilient amid uncertainty with continuing employment growth and investment
Manchester and the North West are showing remarkable resilience despite uncertainty in the economy, according to Michael Jayson, managing partner of national audit, tax, advisory and risk firm Crowe’s Manchester office.
His comments are in response to figures released by the Office for National Statistics (ONS) on employment.
He said: “Between June and September 2018, the largest estimated increase in workforce jobs in the UK was in the North West at 67,000, closely followed by the South East at 61,000.
“Compared with the same month of the previous year, September 2017, the largest estimated increase in workforce jobs was in the North West at 119,000.”
He said the figures were a barometer of the region’s confidence, and did not take into account news of significant added investment into the North West announced since the figures were compiled.
These include large numbers of jobs to be created or brought into the area by the likes of global tech firm Hewlett Packard, which has taken 20,000 sq ft at No 1 Circle Square, which can house up to 300 employees.
Online retailer Amazon is to open a new office in Manchester next year creating 600 new technology and research jobs.
Vodafone has announced that The Landing at MediaCityUK will be home to a new innovation hub and technology incubator, providing fledgling businesses with 5G connectivity, internet of things, high speed fibre and the very best technical resources available.
Mr Jayson said: “The region is doing well and businesses are investing in their workforces in Manchester and the North West, despite the wider uncertainty.
“The fact that so many blue chip companies want to come to Manchester is a reflection of the skilled workforce in the region.
“We are seeing continued investment in the region and it is likely we will see continuing growth in employment with such key job creation projects coming to the area.”
However, he warned there could well be bumps in the road as the UK economy adjusts to the eventual outcome of Brexit, and said Crowe was already advising clients on issues to address and contingency planning.
“Our clients are reporting less availability in resource, mainly in temporary skilled staff across a number of sectors.
“In the construction sector we are hearing that costs are starting to rise, although this may in part be due to the impact of the lower value of the pound, making it less attractive to work here in the UK in comparison to other EU countries, and to Brexit as the level of EU workers reduces.”
