Latest News
Bumpy ride ahead of the road to recovery
16/05/2012
Figures released today show that just under 86,000 people were claiming Jobseeker’s Allowance (JSA) in GM in April 2012 – lower than the figure for March 2012 of 87,000 and representing a monthly decline of 1.6. On an annual basis, the overall number of JSA claimants has increased by 9,000 (11.8) in Greater Manchester over the past year.
Youth unemployment (JSA claimants aged 16-24) in GM also decreased on a monthly basis between March and April, declining by 1,200 to 26,200. Year-on-year however, there are 3,000 more people in GM aged 16-24 claiming JSA benefits than there were in April 2011 – a rise of 13.4%.
Click here to access the full press release.
Manchester-based research team pioneers new approach to increasing effectiveness of public policy
10/0/2012
The authors of a research paper released today (08/05/2012) hope that its recommendations will help to further enhance the effectiveness of public spending policies in Greater Manchester.
When resources are tight, prioritisation of work is often based on short term financial considerations. This is the reality facing the UK’s public sector. It has led to concern about realising the wider value of social programmes (such as improved mental health, less waste, improved perception of an area) and the associated effects on individuals, families and communities.
Click here to access the full press release.
Click here (340kb) to download the report in full.
Greater Manchester continues to grow in strength despite recession
08/05/2012
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
The challenges facing Greater Manchester remain the same, with the labour and housing markets both continuing to struggle. Whilst the UK is probably in a recessionary period at the moment, Greater Manchester remains resilient in a number of areas, however – especially the visitor economy.
Click here to access the full press release.
Click here to access the Manchester Monitor.
GM Research Review
04/05/2012
At its April meeting, the Greater Manchester Combined Authority endorsed the findings of the recent GM Research Review. The Review sets out how GM will be integrating and upskilling the work of its analyst teams so that we are able to produce timely, robust and multi-faceted research on the impact of policy and strategy. The Review has already delivered changes on the ground, including the integration of the public protection research team within New Economy, and plans to produce a single ‘State of GM’ report. A copy of the Research Review is available here (229kb)
It’s a recession, but not as we know it
25/04/2012
A Manchester economic think-tank has produced research to show the UK is amidst a much different economic downturn compared to previous recessions and their aftermath.
It follows today’s preliminary estimate for Gross Domestic Product (GDP) in Q1 2012 from the Office for National Statistics (ONS), which shows the economy shrank by 0.2% in the first quarter of the year. GDP in Q4 2011 fell by 0.3% and the new data confirms that the UK is back in recession.
Click here to access the full press release.
Data suggests employers are waiting for signs of recovery before hiring again
18/04/2012
Figures released today for March 2012 show that 87,000 people were claiming Jobseeker’s Allowance (JSA) in Greater Manchester in March 2012 – lower than the figure for February 2012 of 88,000 and representing a monthly decline of 0.9%.
On an annual basis however, the overall number of JSA claimants has increased by 11,600 (15.3%) in Greater Manchester over the past year.
Click here to access the full press release.
Scheme to assist offenders back into employment is a worthwhile investment, says new study
11/04/2012
New research reveals that for every £1 put into the mentoring of low-risk offenders in Greater Manchester, an additional 20 pence is recouped in savings through reduced benefits payments, improved health and reduced police time.
The study – a cost benefit analysis of the Manchester and Salford Intensive Alternative to Custody (IAC) pilot which began in April 2009 and ran for two years until the end of March – was undertaken by New Economy, the agency whose purpose is to create economic growth and prosperity for the people of Greater Manchester.
Click here to access the full press release.
National economic fragility continues as Manchester fires up the engine for growth
02/04/2012
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
The most recent indicators show little change in economic trends. However, announcements made in relation to the Greater Manchester Growth Plan, the newly signed City Deal and the 2012 Budget give cause for longer term optimism.
Click here to access the full press release.
Click here to access the Manchester Monitor.
JSA claimant count raises cause for concern
14/03/2012
The number of Jobseekers Allowance (JSA) claimants has increased by 11,300 (14.7%) in Greater Manchester over the past year.
Just over 88,000 people were claiming JSA across the city in February 2012, higher than the figure for January 2012 of 86,000 and representing a monthly increase of 2.1%.
Click here to access the full press release.
Future growth plans could resolve bleak unemployment outlook for Greater Manchester
05/03/2012
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
The Moitor highlights that while unemployment continues to rise, longer term propsecxts give cause fo optimism as a result of a number of major development projects being taken forward.
Click here to access the full press release.
Click here to access the Manchester Monitor.
Economist Jim O’Neill to open MIPIM ‘Five Cities’ lunchtime debate
05/03/2012
Manchester-born economist Jim O’Neill (chairman of Goldman Sachs Asset Management) will lead a panel debate on the economic prospects of five European cities at the MIPIM international property convention tomorrow.
The debate will focus upon a new piece of research commissioned by the cities of Amsterdam, Barcelona, Hamburg, Lyon and Manchester, which provides some revealing insight into the expectations of European property industry investors.
Click here to access the full press release.
Greater Manchester ERDF Showcase
05/03/12
New Economy will be hosting an ERDF Showcase Event on Thursday 22nd March at The Mancunian Suite, Etihad Stadium.
The Event is the first of its kind in the North West and will focus on how Greater Manchester has maximised ERDF investment from the North West Operational Programme 2007-2013.
Keynote Speakers include:
- Simon Nokes, Director European Strategy and Policy, New Economy
- David Read, Head of North West ERDF Programme, DCLG
- Sir Howard Bernstein, Chief Executive, Manchester City Council
To reserve an exhibition space or delegate place, please contact Simon Kensdale on 0161 237 4256 or via NWOP@neweconomymanchester.com.
Latest JSA figures point towards a challenging 2012
15/02/12
Figures released today for January 2012 show that the overall number of Jobseekers Allowance (JSA) claimants has increased by 11,000 (14.6%) in Greater Manchester (GM) over the past year.
Just over 86,000 people were claiming JSA in GM in January 2012, well above the figure for December 2011 of 82,000 and representing a monthly increase of 5.2. While this is a worrying trend, a similar picture is evident at a North West (5.5%) and UK (5.1%) level.
Click here to access the full press release.
Greater Manchester employers offered unique ‘top-up’ to encourage apprenticeships
07/02/12
Employers across Greater Manchester will be offered incentives to recruit apprentices that are over and above the UK government’s national offer.
The Greater Manchester ‘top-ups’ will be made available through the Greater Manchester Commitment, which aims to tackle youth unemployment across the region.
Click here to access the full press release.
Long-term research and development prospects offer hope for Greater Manchester
06/02/12
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
The Monitor highlights that economic conditions remain challenging, however longer term prospects for Greater Manchester have been boosted following the recent announcement that the city will become home to a new £45 million graphene research centre.
Click here to access the full press release.
Click here to access the Manchester Monitor.
Little Christmas cheer in the Greater Manchester jobs market
18/01/12
Figures released today for December 2011 show that the overall number of Jobseekers Allowance (JSA) claimants has increased by 10,900 (15.3%) in Greater Manchester (GM) over the past year.
Approximately 82,000 people were claiming JSA in GM in December 2011, broadly similar to the figure reported in November 2011 – the usual seasonal impact on the jobs market does not appear to have provided any short-term boost to employment.
Click here to access the full press release.
Employment outlook gloomy for 2012, but could be worse
09/01/12
New Economy today released the latest editions of the Quarterly Economic Outlook and Manchester Monitor, which provide an analytical snapshot of the economic wellbeing of Greater Manchester.
Both reports indicate that 2012 will be a challenging year for GM, with the labour marketing remaining constrained and pressure on household expenditure. However, parts of GM’s economy continue to defy the gloom, with the visitor economy performing well and passenger numbers at Manchester Airport growing year-on-year.
Click here to access the full press release.
Click here to access the Manchester Monitor.
Click here to access the Quarterly Economic Outlook.
Number of jobseekers aged 50+ in Greater Manchester on the rise
14/12/11
New figures released today show a 12.2% annual increase on the number of jobseekers allowance (JSA) claimants aged 50 and over in Greater Manchester.
The number of JSA claimants aged 50+ currently stands at around 10,500, which is 1,100 higher than this time last year.
Click here to access the full press release
All Greater Manchester wants for Christmas is economic growth and job creation
05/12/11
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
The Monitor highlights that 2012 is likely to be another difficult year for GM, with unemployment remaining high and household incomes being squeezed as a result of high inflation according to the latest indicators. The key test for long-term economic recovery will be job creation and the hope is that new jobs will begin to emerge as GM realises some of the hard work invested into various projects this year such as the enterprise zone at Airport City.
Click here to access the full press release.
Click here to access the Manchester Monitor.
Greater Manchester businesses urged to exploit growth opportunities in foreign markets
23/11/11
A report released today by New Economy highlights how many firms in Greater Manchester make a significant proportion of their income from export sales – with £7bn worth of goods and services being sold in total.
However, the report suggests that Greater Manchester firms are punching below their weight on the international stage; exporting less in value terms than the city regions of Leeds and Birmingham – although more than Merseyside and the Bristol city region.
The findings of the report show that due to the region’s size there is clearly scope to increase connectivity and further open Greater Manchester’s economy to foreign trade and investment opportunities.
To find out more, click here
Strategic Opportunities for Manchester Airport
21/11/11
New Economy has today released a report which identifies opportunities available to Manchester Airport to maximise its contribution to Greater Manchester’s economic development. Produced on behalf of of the Association of Greater Manchester Authorities (AGMA), the report looks at the economic impact of Manchester Airport and goes on to highlight key areas for future development, focusing on issues relating to transport linkages and route development.
To find out more, click here
Annual rise increases focus on youth unemployment
16/11/11
Figures released today show that the overall number of jobseekers allowance claimants has risen by 9,770 (13.5%) in Greater Manchester over the past year.
With national youth unemployment now past the 1 million mark, Greater Manchester saw a slight monthly rise in the number of claimants aged 16-24 of 180 (0.7%) to 27,080 – the highest level since youth unemployment peaked in the wake of the recession, and a level not seen since March 2010.
To find out more, click here
Greater Manchester’s GCSE results improve as youth unemployment rises
07/11/2011
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
The latest Monitor highlights that depite an increase in GCSE results across Greater Manchester, this has not been able to halt the rise in youth unemployment. Despite this, the newly released 2011 update of the GM Forecasting Model offers hope for the future, with GM forecast to drive forward a North West recovery in the jobs market.
Click here to access the full press release.
Click here to access the Manchester Monitor.
Greater Manchester drives forward its ambition to boost skills and employment
01/11/2011
The Greater Manchester Skills and Employment Partnership has officially launched. It is an initiative led by New Economy, which aims to boost the regions employment and skill levels.
The partnership is located within New Economy, the agency charged with creating economic growth and prosperity across Greater Manchester. It brings together a range of stakeholders working to a common agenda; driving the best possible skills and employment outcomes for the region’s people and businesses.
Click here to access the full press release.
Energy bills saving of 16% offered to small businesses across the North West
25/10/2011
Small businesses across the North West are being offered the opportunity to slash 16% off their energy bills, with a new scheme launched today by New Economy.
ecoSMARTER, is part of a national, government-backed initiative which is designed to help tackle soaring energy costs. It will provide small businesses with a free green makeover worth more than £1000, helping to cut bills and carbon emissions.
Click here to access the full press release.
Greater Manchester GVA forecast to outperform UK
21/10/2011
New Economy has today released economic forecasts for Greater Manchester, showing that GVA will be 1.7% in 2011 compared to just 1.3% in the UK as a whole, driven by the strength of the city’s business services sector.
Data shows similar growth for 2012, with average growth over the next decade (to 2022) of 2.5% per annum. The anticipated growth is however a downward revision on last year’s forecast of 2.8% per annum over the same ten year period.
Click here to access the full press release.
”Whole-place” Community Budgets are the next step in generating growth for UK plc
17/10/2011
Today, Government announced “Whole-place Community Budgets”. For Greater Manchester, this is a significant opportunity to generate economic growth in tandem with reducing poverty and depravation. This is about improving the lives of residents in Greater Manchester by spending public money better.
This “second phase” of Community Budgets will see Government choose two places to test a new approach for funding local public services. It will reduce duplication and force greater value for money from public resources.
Click here to access the full press release.
North-South divide takes its toll on the economy
12/10/2011
The continuing number of economic disparities between the North and South of England are highlighted in the latest Quarterly Economic Outlook (QEO) published today by New Economy.
Applying the latest data available, Greater Manchester’s QEO shows that although employment increased in the private sector in the North by 1.2% between 1998 and 2008, the South experienced a significantly larger increase of 7.1%.
Click here to access the full press release.
Advanced manufacturing is key to Manchester’s economic resilience – but it will not generate employment growth
05/10/2011
A report published today highlights how Greater Manchester has a strong base of profitable, innovative and internationally competitive advanced manufacturers – but it warns the sector will not be the panacea for employment growth that many hope it will be.
The report – produced by New Economy – focuses on the sector’s 38,000 employees within Greater Manchester, who account for almost a quarter of all advanced manufacturing employees in the UK.
Click here to access the full press release.
Manchester innovation brings jobs boost to UK with new national Research and Technology Hub for groundbreaking graphene
03/10/2011
New Economy welcomes today’s announcement by the Government of a new £50m Global Research and Technology Hub to commercialise graphene.
In the words of the chancellor, the project will “take the discovery from British laboratories to British factory floors”.
New Economy, the strategic lead for economic growth in Greater Manchester, has been at the forefront of securing this investment for the nation. It is an important development in a tough economic environment and New Economy is now working to ensure the Hub is based in Manchester.
Click here to access the full press release.
Labour and housing markets struggle, but visitor economy remains strong
03/10/2011
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
New Economy highlights that Greater Manchester is by no means immune to the current economic uncertainty being felt across the UK, and in particular to the impacts that this is having on the labour market. More positively, indicators such as hotel occupancy and airport passenger numbers are growing on an annual basis and highlight that Greater Manchester’s external profile remains strong.
Click here to access the full press release.
Click here to access the Manchester Monitor.
Claimant numbers continue to rise across Greater Manchester
14/09/2011
Figures released today by the Office for National Statistics (ONS) show that unemployment in Greater Manchester has increased by 2.9% between July and August.
The number of Jobseeker’s Allowance (JSA) claimants in Greater Manchester was recorded at 81,140 in August 2011 – a rise of 2,250. Regional (north west) and national JSA numbers also increased from July to August, by 2.7% and 2.3% respectively.
Click here to access the full press release.
Challenging times for Greater Manchester as UK recovery slows
05/09/2011
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
New Economy highlights that the gloom continues for the UK economy and GM has not been able to escape these trends, which includes rising unemployment. More positively, there are signs that GM’s international profile is growing and indicators such as hotel occupancy and airport passenger numbers remain strong.
Click here to access the full press release.
Click here to access the Manchester Monitor.
Jobseekers claimants rise across Greater Manchester
17/08/2011
Figures released this morning by the Office for National Statistics (ONS) show that unemployment in Greater Manchester has increased between June to July.
The number of jobseeker’s allowance (JSA) claimants grew by 2,398 and was recorded at 79,075 in July 2011 – a monthly rise of 3.1%
National and regional JSA numbers also increased from June to July – by 3.3% and 3.2% respectively.
Click here to access the full press release.
Businesses urged to help tackle youth unemployment
10/08/2011
New Economy is urging businesses in Greater Manchester to help address the present growth in youth unemployment across the region.
It is hosting a recruitment event on Thursday 18 August at The University of Manchester where there will be an opportunity to engage with talented 18-24 year old jobseekers.
Click here to access the full press release.
Is Greater Manchester bucking the trend?
01/08/2011
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
New Economy highlights that UK economic growth may be effectively stalling, although positive signs still remain for GM. This includes rising hotel occupancy rates and strong growth in airport passenger numbers.
Click here to access the full press release.
Click here to access the Manchester Monitor.
Making Manchester a leader in enterprise innovation support
27/07/11
Manchester should adopt more effective mechanisms to stimulate business innovation – that is the underlying message of a research paper published today by New Economy Working Papers.
The study emphasises the significance of business innovation for Greater Manchester, highlighting how cities with a higher proportion of innovative businesses are the ones which prosper and thrive.
Click here to access the full press release
Click here (417kb) to access the authors’ presentation slides
Blue skies remain on the horizon as the economic storm continues
04/07/2011
New Economy today released the latest edition of the Manchester Monitor, which provides an analytical snapshot of the economic wellbeing of Greater Manchester.
New Economy highlights that the difficulties faced by the UK economy continue and Greater Manchester must ride out this storm of high inflation, lower household incomes and rising long term unemployment.
Click here to access the full press release.
Click here to access the Manchester Monitor.
