Labour Market Bulletin reveals thriving entrepreneurial culture in Warwickshire
Warwickshire continues to have a strong and stable labour market, the latest Quarterly Labour Market Bulletin (QLMB) from Warwickshire Means Business reveals.
While employment has again exceeded regional and national averages, our first QLMB edition of 2018 highlights that self-employment growth in the county has doubled the rate of growth across the country. This shows that Warwickshire has a thriving entrepreneurial culture, thanks to its strong business base.
Data drawn from a range of sources suggests this trend is fuelling a growing gig economy with the rise in flexible working and short term contracts becoming very clear in the labour market.
Earnings also look positive as residential incomes in Warwickshire have grown by 17% over the last decade, with the average resident earning £25,760 per annum. Alongside low unemployment and high GVA per head, the prospects for future growth look optimistic for the county as the labour market continues to strengthen and prosperity increases.
The QLMB, compiled by Natalie Maposa from Warwickshire County Council's Economy and Skills Group, can be viewed in full here. Part of our commitment to keep you fully updated on the very latest Labour Market trends in the county, it gives insights and analysis into employment and unemployment, economic activity and inactivity and real-time demand in the current labour market.
All labour market research is collected and released every February, May, August and November and brought to you in the QLMB as soon as we have it to keep you right up to speed with everything you need to know about employment trends in Warwickshire.
The latest issue includes a special article exploring if the pay squeeze is being driven by changes in the hours worked by men.
Our next Quarterly Labour Market Report will be published in May.