London has outperformed the rest of the UK in economic and jobs growth since 2010
London has outperformed the rest of the UK in economic and jobs growth since the recession, while the recovery has been weakest in the North West and Ireland.
According to new research by the TUC which analyses regional and national contributions to the UK’s economic and jobs growth since 2010, from 2010 to 2014 jobs growth in London happened at twice the rate of the UK as a whole.
From 2010 to 2014, jobs growth in London was 11.5 per cent. This was six times faster than jobs growth in the North West, which registered at just 1.8 per cent.
In 2013, economic activity in London accounted for 22 per cent of the value of the entire UK economy, up from 21 per cent in 2010 and 19 per cent in 1997. In 2014, London accounted for 14.2 per cent of all UK jobs, compared to 13.5 per cent in 2010 and 12.4 per cent in 1997.
Commenting on the figures, TUC general secretary Frances O’Grady said Britain needed a “a better economic plan that prioritises balanced growth across the UK”:
“We need a recovery that works for the whole of the UK, but cuts to infrastructure and services have hit places that are most in need of investment. We now have an unbalanced recovery that is too weak outside of London, too dependent on families getting into debt, and too focused on jobs in low-paid service industries.
“UK regions won’t become powerhouses of growth and job creation unless they are powered-up by investment in skills, infrastructure and decent public services – but the chancellor’s extreme cuts will mean pulling the plug.”
Rate of growth of UK nations and regions relative to London, 2010-2013
|
Rate of growth % |
Growth relative to whole of UK % |
|
|
Northern Ireland |
4.4 |
49 |
|
North West |
4.5 |
51 |
|
South West |
6 |
67 |
|
Yorkshire & The Humber |
6.4 |
72 |
|
North East |
7 |
79 |
|
East of England |
7.4 |
83 |
|
East Midlands |
8 |
90 |
|
Scotland |
8.1 |
91 |
|
United Kingdom |
8.9 |
100 |
|
Wales |
9.5 |
107 |
|
South East |
9.8 |
110 |
|
West Midlands |
10 |
112 |
|
London |
14.5 |
163 |
Jobs growth for UK nations and regions, 2010-2014
|
Increase, 2010-2014 |
% change |
|
|
North West |
58,000 |
1.8 |
|
Wales |
36,000 |
2.7 |
|
North East |
33,000 |
2.9 |
|
South West |
90,000 |
3.6 |
|
West Midlands |
93,000 |
3.7 |
|
South East |
189,000 |
4.5 |
|
Northern Ireland |
36,000 |
4.6 |
|
UK |
1,461,000 |
5.1 |
|
Yorkshire & The Humber |
121,000 |
5.1 |
|
East Midlands |
110,000 |
5.2 |
|
Scotland |
128,000 |
5.2 |
|
East of England |
163,000 |
5.9 |
|
London |
440,000 |
11.5 |
Source: Office for National Statistics
James Bloodworth is the editor of Left Foot Forward. Follow him on Twitter
3 Responses to “Regional inequalities have deepened since the recession”
Brynski
No surprise. Look after you chums. Same old… same old……
MaryAGriffith
Some New Features with leftfootforward….. Go To Next Page
Cole
It’s interesting that London – which, as we’re always told, is full of lefties and immigrants – has a much stronger economy than the rest of the UK.