Economic Growth in Oxfordshire

David Doughty

Chief ExecutiveOxfordshire Economic Partnership

Economic Growth in Oxfordshire 5 November 2009

South East England Development Agency (SEEDA)

Economic Growth in Oxfordshire 5 November 2009

Oxfordshire

Economic Growth in Oxfordshire 5 November 2009

Oxfordshire – a decade of growth

Gross Value Added (GVA)

8,000

9,000

10,000

11,000

12,000

13,000

14,000

15,000

16,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006

£mil

lio

n

GVA measures the contribution to the economy of each individual producer, industry or sector in the United Kingdom

Economic Growth in Oxfordshire 5 November 2009

MKOB GVA growth

Gross Value Added (GVA)

0

2000

4000

6000

8000

10000

12000

14000

16000

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

£m

illi

on Oxfordshire

Buckinghamshire

Milton Keynes

Economic Growth in Oxfordshire 5 November 2009

MKOB Growth in the number of businesses

VAT Registered Companies

5,000

10,000

15,000

20,000

25,000

30,000

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Oxfordshire

Buckinghamshire

Milton Keynes

Economic Growth in Oxfordshire 5 November 2009

Oxfordshire Population Growth

Oxfordshire

480,000500,000520,000540,000560,000580,000600,000620,000640,000660,000

Source: ONS mid-year population estimates

Economic Growth in Oxfordshire 5 November 2009

MKOB Population Growth

Population

100,000

200,000

300,000

400,000

500,000

600,000

700,000

Oxfordshire

Buckinghamshire

Milton Keynes

Economic Growth in Oxfordshire 5 November 2009

MKOB Working Age Population

Working age population

60

61

62

63

64

65

66

67

1992

1994

1996

1998

2000

2002

2004

2006

2008

Per

cen

t Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS mid-year population estimatesNotes: % is a proportion of total population Working age includes males aged 16-64 and females aged 16-59

Economic Growth in Oxfordshire 5 November 2009

Economically Active

Economically Active - Numbers

320,000325,000330,000335,000340,000345,000350,000355,000360,000365,000

Mar

99-

Feb

00

Mar

00-

Feb

01

Mar

01-

Feb

02

Mar

02-

Feb

03

Mar

03-

Feb

04

Jan

04-D

ec 0

4

Apr

04-

Mar

05

Oct

04-

Sep

05

Jan

05-D

ec 0

5

Apr

05-

Mar

06

Jul 0

5-Ju

n 06

Oct

05-

Sep

06

Jan

06-D

ec 0

6

Apr

06-

Mar

07

Jul 0

6-Ju

n 07

Oct

06-

Sep

07

Jan

07-D

ec 0

7

Apr

07-

Mar

08

Jul 0

7-Ju

n 08

Oct

07-

Sep

08

Jan

08-D

ec 0

8

Apr

08-

Mar

09

Economically Active - Percentage

80

81

82

83

84

85

86

87

Mar

99-

Feb

00

Mar

00-

Feb

01

Mar

01-

Feb

02

Mar

02-

Feb

03

Mar

03-

Feb

04

Jan

04-D

ec 0

4

Apr

04-

Mar

05

Oct

04-

Sep

05

Jan

05-D

ec 0

5

Apr

05-

Mar

06

Jul 0

5-Ju

n 06

Oct

05-

Sep

06

Jan

06-D

ec 0

6

Apr

06-

Mar

07

Jul 0

6-Ju

n 07

Oct

06-

Sep

07

Jan

07-D

ec 0

7

Apr

07-

Mar

08

Jul 0

7-Ju

n 08

Oct

07-

Sep

08

Jan

08-D

ec 0

8

Apr

08-

Mar

09

Oxfordshire

Buckinghamshire

Milton Keynes

Economic Growth in Oxfordshire 5 November 2009

Oxfordshire Unemployment

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Economic Growth in Oxfordshire 5 November 2009

MKOB Unemployment %

2

2.5

3

3.5

4

4.5

5

5.5

6

6.5

Mar

1996

-Feb 9

7

Mar

98-F

eb 9

9

Mar

00-F

eb 0

1

Mar

02-F

eb 0

3

Jan

04-D

ec 04

Oct 04

-Sep

05

Apr 0

5-M

ar 0

6

Oct 05

-Sep

06

Apr 0

6-M

ar 0

7

Oct 06

-Sep

07

Apr 0

7-M

ar 0

8

Oct 07

-Sep

08

Apr 0

8-M

ar 0

9

Oxfordshire

Buckinghamshire

Milton Keynes

Economic Growth in Oxfordshire 5 November 2009

Oxfordshire – Job Vacancies

Unfilled Job Centre Vacancies

1,0001,5002,0002,5003,0003,5004,0004,5005,000

Jan-

06

Apr-0

6

Jul-0

6

Oct-0

6

Jan-

07

Apr-0

7

Jul-0

7

Oct-0

7

Jan-

08

Apr-0

8

Jul-0

8

Oct-0

8

Jan-

09

Apr-0

9

Jul-0

9

Economic Growth in Oxfordshire 5 November 2009

MKOB – Job Vacancies

Unfilled Job Centre vacancies per 10,000 working age popultaion

0

50

100

150

200

250

Jan-

06

May

-06

Sep

-06

Jan-

07

May

-07

Sep

-07

Jan-

08

May

-08

Sep

-08

Jan-

09

May

-09

Sep

-09

Oxfordshire

Buckinghamshire

Milton Keynes

Economic Growth in Oxfordshire 5 November 2009

MKOB – Job Density

0.8

0.85

0.9

0.95

1

1.05

2000 2001 2002 2003 2004 2005 2006 2007

Oxfordshire

Buckinghamshire

Milton Keynes

The density figures represent the ratio of total jobs to working-age population.

Economic Growth in Oxfordshire 5 November 2009

MKOB – Employee Jobs

Total Employee Jobs

50,000

100,000

150,000

200,000

250,000

300,000

350,000

1995

1997

1999

2001

2003

2005

2007

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual business inquiry employee analysisNotes: Employee jobs excludes self-employed, government-supported trainees and HM Forces

Economic Growth in Oxfordshire 5 November 2009

Oxfordshire Employee Jobs

Employee Jobs by sector

0

20,000

40,000

60,000

80,000

100,000

1995

1997

1999

2001

2003

2005

2007

Manufacturing

Construction

Toursim

Service - Distribution

Service - Transport

Service - Finance

Service - Public

Source: ONS annual business inquiry employee analysisData Tourism consists of industries that are also part of the services industryNotes: Employee jobs excludes self-employed, government-supported trainees and HM Forces

Economic Growth in Oxfordshire 5 November 2009

MKOB - Manufacturing

Manufacturing Jobs

8

10

12

14

16

18

1995

1997

1999

2001

2003

2005

2007

%

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual business inquiry employee analysisNotes: % is a proportion of total employee jobs. Employee jobs excludes self-employed, government-supported trainees and HM Forces

Economic Growth in Oxfordshire 5 November 2009

MKOB - Construction

Construction Jobs

1

2

3

4

5

6

1995

1997

1999

2001

2003

2005

2007

%

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual business inquiry employee analysisNotes: % is a proportion of total employee jobs. Employee jobs excludes self-employed, government-supported trainees and HM Forces

Economic Growth in Oxfordshire 5 November 2009

MKOB - Tourism

Tourism Jobs

4

5

6

7

8

9

19

95

19

96

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

%

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual business inquiry employee analysisNotes: % is a proportion of total employee jobs. Employee jobs excludes self-employed, government-supported trainees and HM Forces

Economic Growth in Oxfordshire 5 November 2009

MKOB - Service

Service Jobs

76

78

80

82

84

86

88

90

1995

1997

1999

2001

2003

2005

2007

%

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual business inquiry employee analysisNotes: % is a proportion of total employee jobs. Employee jobs excludes self-employed, government-supported trainees and HM Forces

Economic Growth in Oxfordshire 5 November 2009

MKOB - Pay

Gross Weekly Pay

400

450

500

550

600

2002 2003 2004 2005 2006 2007 2008

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual survey of hours and earnings - resident analysisNote: Median earnings in pounds for employees living in the area.

Economic Growth in Oxfordshire 5 November 2009

Oxfordshire - Qualifications

Qualifications by level

050,000

100,000150,000200,000250,000300,000350,000400,000

NVQ4 and above

NVQ3 and above

NVQ2 and above

NVQ1 and above

Other Qualifications

No Qualifications

Source: ONS annual population surveyNotes: Numbers are for those of working age

Economic Growth in Oxfordshire 5 November 2009

MKOB – NVQ4 and above

% NVQ4 and above

20

25

30

35

40

Mar99-Feb00

Mar00-Feb01

Mar01-Feb02

Mar02-Feb03

Mar03-Feb04

Jan05-Dec05

Jan06-Dec06

Jan07-Dec07

Jan08-Dec08

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual population surveyNotes: % is a proportion of resident working age population of area

Economic Growth in Oxfordshire 5 November 2009

MKOB – NVQ3 and above

% NVQ3 and above

30354045505560

Mar99-Feb00

Mar00-Feb01

Mar01-Feb02

Mar02-Feb03

Mar03-Feb04

Jan05-Dec05

Jan06-Dec06

Jan07-Dec07

Jan08-Dec08

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual population surveyNotes: % is a proportion of resident working age population of area

Economic Growth in Oxfordshire 5 November 2009

MKOB – NVQ2 and above

% NVQ2 and above

50556065707580

Mar99-Feb00

Mar00-Feb01

Mar01-Feb02

Mar02-Feb03

Mar03-Feb04

Jan05-Dec05

Jan06-Dec06

Jan07-Dec07

Jan08-Dec08

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual population surveyNotes: % is a proportion of resident working age population of area

Economic Growth in Oxfordshire 5 November 2009

MKOB – NVQ1 and above

% NVQ1 and above

787980818283848586

Mar99-Feb00

Mar00-Feb01

Mar01-Feb02

Mar02-Feb03

Mar03-Feb04

Jan05-Dec05

Jan06-Dec06

Jan07-Dec07

Jan08-Dec08

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual population surveyNotes: % is a proportion of resident working age population of area

Economic Growth in Oxfordshire 5 November 2009

MKOB – No Qualifications

% No Qualifications

4

6

8

10

12

14

Mar99-Feb00

Mar00-Feb01

Mar01-Feb02

Mar02-Feb03

Mar03-Feb04

Jan05-Dec05

Jan06-Dec06

Jan07-Dec07

Jan08-Dec08

Oxfordshire

Buckinghamshire

Milton Keynes

Source: ONS annual population surveyNotes: % is a proportion of resident working age population of area