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South West

Demography

Strong increases in the population of the South West are due mainly to inward migration: of companies relocating away from London and the South East but also of people, many of them pensioners, seeking to improve their quality of life. (Read more...)

Household income and spending

Household income and household spending per capita in the South West are very close to the UK averages. (Read more...)

Housing market

The recovery in the housing market in the South West has stalled. (Read more...)

Industries and firms

The industrial structure of the South West has a number of distinctive features which reflect its geographical position and the importance of tourism to the region's economy. (Read more...)

Labour market

The unemployment rate in the South West is falling. The Claimant count measure remains around 1½pp below the UK average.

Employment levels are beginning to stabilise.

(Read more...)

News and interpretation - Manufacturing

So far, the parts of the South West most affected by the recession have been the ones which are most dependent on manufacturing. They include Swindon, badly affected by dramatically reduced production at Honda, and Gloucestershire. (Read more...)

News and interpretation - Other

There is a mixture of good and bad news amongst energy and construction companies in the South West. (Read more...)

News and interpretation - Services

Although the services sector has not suffered in the recession as much as might have been expected, there are still job cuts in many areas. (Read more...)

Occupational mix

In comparison to the UK average, the South West is under-represented in higher-level occupations. (Read more...)

Short-term outlook

There is a very mixed outlook for industries in the South West. (Read more...)

Skills and earnings

Earnings in the South West tend to be lower than the UK average for comparable occupations, not because of lower skills among the workforce, but partly because the jobs (particularly managerial ones) are in small companies in lower-paying activities and partly because people are willing to accept lower wages in return for environmental benefits.

The gap between female and male earnings, however, has diminished rapidly.

(Read more...)

The long-term: Demography

Uncertainties overhang the two main sources of population growth in the South West: inward migration (particularly of retired people) and the relocation of businesses.

(Read more...)

The long-term: GVA and employment

Although output growth is expected to return over the medium term in most broad sectors at rates similar to those seen before the recession, the prospects for employment are much poorer than for output. Restructuring in defence and aerospace manufacturing, curbs on public expenditure and weaker growth in household spending, particularly among older people, are expected to restrain any growth in employment for many years. (Read more...)

Transport Infrastructure

The quality of the transport infrastructure and its accessibility vary considerably over the region and, in general, deteriorate the further south and west one travels. (Read more...)