Solihull named employment hotspot for highly skilled jobs
THERE has been a 1.6% rise in high skilled employment in the West Midlands, with the strongest concentration being in Solihull, according to a new study.
The new job figures from NatWest’s Regional Economic Tracker draw no conclusions but it is thought the expansion of Jaguar Land Rover and other firms in the Solihull area has much to do with the results.
Sebastian Burnside, Senior Economist for NatWest said: “There are now 1.6 million more people working than there were in 2008, but they are not doing the same jobs as they were eight years ago.
“The strongest growth has been seen in highly skilled categories by managers and professionals, expanding by 12.5% since 2008 and a very healthy 2.5% in the last 12 months.”
The NatWest Regional Economic Tracker monitors employment levels in 12 regions across the UK showing where the fastest job growth has occurred on a quarterly basis.
In terms of the best regional performers, Solihull saw the number of people in highly skilled jobs stand at 54%, while in Worcester and Shrewsbury the figure is 45%.
The study concludes there has also been an increase across both medium and low skilled roles in the region, with an overall increase of 1%.
Elsewhere, BDO said a pause on investment and hiring decisions in the run-up to the EU referendum had left the UK economy on hold.
In its latest Business Trends Report, the accountant and business adviser said the report revealed that uncertainty ahead of the decision about EU membership had cast a shadow over the UK economy, leaving business investment weak and growth expectations amongst UK corporates falling for the tenth month in a row.
BDO’s Output Index – which reflects companies’ experience of orders on hand – now sits at 99.7. This is the first time since 2013 that it has fallen below the 100 level that indicates UK long-term trend growth at about 2%.
The uncertainty around the EU decision is also contributing to a slowdown in job creation. BDO’s Employment Index – which shows firms’ intentions to hire – has dropped to 101.2.
Commenting on the findings, Richard Rose, Partner, BDO in Birmingham, said: “Private sector capital investment has been sluggish throughout this recovery, and recent official figures show sharp falls – no doubt related to Brexit fears. This fall has no doubt contributed to UK businesses’ expectation that economic growth will fall behind its long term trend for the first time in nearly three years.
“In the end, investment drives productive capacity, growth and living standards. After the referendum, we must see businesses starting to invest or we face a worrying future.”
