I've been doing some analysis on resilience and recovery for #nottingham for longer-form pieces later in the summer. First up, claimant count unemployment in Nottingham is up from 4.3% to 7.7% between January and May 2020, equivalent to an increase of 7,890 residents. (1)
However the rate of increase in claimant count unemployment in the city - an increase of 80% in May compared to January - is lower than the rate of increase nationally (120%). But the claimant unemployment rate in the city is still 1.3 percentage points higher than average(2)
Longer term issues remain the big contrast between the wealth generated by workplaces in the city (GVA per head) and the income attributed to resident households (GDHI per head). Nottingham has a high GVA per head but the lowest household income, bar nowhere, in the UK (3)
The gap between output/value added (from workplaces in the city) and income (attributed to households) is £17,411 per head in current basic prices. The city has a £30 billion economy but only a £10 billion total household income. Why? (4)
My brilliant @TrentUni final year economics students looked at this. Joe, Alex and Lauren found that, when adjusting for inflation, Nottingham workers experienced at 10% fall in real wages since 2009 and Nottingham residents experienced a 9% fall in real wages... Why? (5)
Lauren, Alex & Joe ranked occupations by average wage rather than associated skill. They found that higher skill jobs can be low paid in Nottingham (particularly care work, at less than £10 an hour) BUT growth between 2008 and 2018 has overwhelmingly been amongst low pay jobs (6)
Whilst the numbers employed in the highest paid jobs has shrunk since 2008. This affects average earnings and income... but also the mix of goods and services people consume in the city, pushing down demand for higher value stuff (and thus the demand for high skill jobs) (7)
Finally! (my students this year were awesome) The skill profile of the city has improved markedly. BUT more people are in jobs they're over-qualified for. The % of people working in jobs requiring no qualifications (20%) is now double the % who actually have no quals (10%) (8)
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