by daniel harari economic indicators matthew ward · economic statistics, summary comparison latest...

22
www.parliament.uk/commons-library | intranet.parliament.uk/commons-library | [email protected] | @commonslibrary BRIEFING PAPER Number 06924, 19 June 2020 Regional and country economic indicators By Daniel Harari Matthew Ward Inside: 1. North East 2. North West 3. Yorkshire and the Humber 4. East Midlands 5. West Midlands 6. East of England 7. London 8. South East 9. South West 10. England 11. Wales 12. Scotland 13. Northern Ireland 14. Notes and Sources

Upload: others

Post on 25-Jun-2020

2 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

www.parliament.uk/commons-library | intranet.parliament.uk/commons-library | [email protected] | @commonslibrary

BRIEFING PAPER

Number 06924, 19 June 2020

Regional and country economic indicators

By Daniel Harari Matthew Ward

Inside:

1. North East 2. North West 3. Yorkshire and the Humber 4. East Midlands 5. West Midlands 6. East of England 7. London 8. South East 9. South West 10. England 11. Wales 12. Scotland 13. Northern Ireland 14. Notes and Sources

Page 2: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

2 Regional and country economic indicators

Contents What’s in this briefing? 3

Summary tables and charts 4

1. North East 8

2. North West 9

3. Yorkshire and the Humber 10

4. East Midlands 11

5. West Midlands 12

6. East of England 13

7. London 14

8. South East 15

9. South West 16

10. England 17

11. Wales 18

12. Scotland 19

13. Northern Ireland 20

14. Notes and Sources 21

Cover page image copyright: © Crown copyright. All rights reserved. House of Commons Library (OS) 100040654 and (OSNI) 2085 (2015).

Page 3: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

3 Regional and country economic indicators

What’s in this briefing? This briefing contains key economic data for the regions and countries of the UK, compared to the national average. Summary tables comparing the regional/country data is also provided, along with some charts showing differences between the regions/countries for selected data.

The majority of these data are from official sources – the Office for National Statistics (ONS) or government departments. The forecasts for economic growth are from Oxford Economics, an economic consultancy.

The variables included are:

• Overall economic output and output per head • Economic growth since 2010 • Forecast economic growth • Employment levels and rates • Unemployment levels and rates • Average earnings • Jobs in manufacturing • Employment in the public sector • Average house prices and annual change • Public sector revenue and expenditure per head • Median income tax paid • Number of businesses and new businesses in 2017

More detailed information regarding employment, unemployment and pay by UK region and country can be found in the Library’s briefing Labour market statistics: UK regions and countries.

For detailed analysis of national economic data and topical issues, see Economic Indicators: Latest Statistics. This series is updated whenever new data becomes available and it reflects current statistical data on 21 key indicators.

Page 4: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

4 Regional and country economic indicators

Summary tables and charts

Economic statistics, summary comparisonLatest available figures

UK England Scotland Wales N. Ireland North East North West

Population 2018, millions 66.4 56.0 5.4 3.1 1.9 2.7 7.3

Total output (GDP) 2018, £ billions 2,140 1,839 161 75 49 63 207Total output (GDP) per head 2018, £ 32,216 32,857 29,660 23,866 25,981 23,569 28,449Economic Growth (GDP), 2010-18** Annual ave real % change 1.9% 2.1% 1.5% 1.7% 1.7% 0.5% 1.7%

Forecast economic growth (GVA, real terms)*2020 % change on year -5.0% -5.0% -4.7% -5.7% -4.7% -6.0% -5.2%2019-30** Average annual % change 1.3% 1.4% 1.2% 1.0% 1.1% 0.8% 1.2%

Unemployment rate Feb - Apr 2020, % 3.9% 3.9% 4.6% 3.0% 2.3% 5.2% 4.1%Employment rate Feb - Apr 2020, % 76.4% 76.8% 74.3% 74.4% 71.6% 73.9% 75.9%Median weekly earnings, 2019 £, full time employees 585 591 578 541 535 531 556

Jobs in manufacturing sector Oct - Dec 2019, % of all jobs 7.5% 7.4% 6.9% 10.4% 10.2% 9.6% 9.0%Employment in public sector Oct - Dec 2019, % of all jobs 16.5% 15.6% 21.3% 20.7% 24.8% 19.7% 17.5%

House Prices Mar 2020, average (£) 232,000 248,000 152,000 162,000 141,000 127,000 166,000% change on year 2.1% 2.2% 1.5% 1.1% 3.8% 1.8% 3.4%

Net fiscal balance per head 2018/19, £ -623 -89 -2,482 -4,307 -4,996 -4,064 -2,780

Number of businesses 2019, thousands 5,868 5,188 334 222 124 152 579Annual % change in businesses 2019, % change on year 3.5% 3.7% 0.8% 11.9% -6.4% -6.9% 6.2%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound averageSources: See section 14. Notes and Sources

Page 5: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

5 Regional and country economic indicators

Economic statistics, summary comparisonLatest available figures

UK

Yorkshire and the Humber

East Midlands

West Midlands

East of England London South East

South West

Population 2018, millions 66.4 5.5 4.8 5.9 6.2 8.9 9.1 5.6

Total output (GDP) 2018, £ billions 2,140 142 125 160 186 487 311 158Total output (GDP) per head 2018, £ 32,216 25,859 25,946 27,087 30,069 54,686 34,083 28,231Economic Growth (GDP), 2010-18** Annual ave real % change 1.9% 1.3% 1.7% 2.5% 2.3% 3.1% 1.6% 1.6%

Forecast economic growth (GVA, real terms)*2020 % change on year -5.0% -6.1% -5.0% -6.6% -5.4% -4.1% -4.7% -5.3%2019-30** Average annual % change 1.3% 1.0% 1.2% 0.9% 1.3% 1.8% 1.5% 1.2%

Unemployment rate Feb - Apr 2020, % 3.9% 3.9% 3.7% 4.8% 3.6% 4.6% 3.0% 3.0%Employment rate Feb - Apr 2020, % 76.4% 74.0% 78.1% 74.5% 78.0% 76.4% 79.5% 78.9%Median weekly earnings, 2019 £, full time employees 585 540 547 551 610 699 636 561

Jobs in manufacturing sector Oct - Dec 2019, % of all jobs 7.5% 10.7% 11.9% 10.3% 7.2% 2.1% 6.0% 8.0%Employment in public sector Oct - Dec 2019, % of all jobs 16.5% 18.1% 15.6% 15.8% 14.9% 13.6% 14.5% 15.7%

House Prices Mar 2020, average (£) 232,000 159,000 195,000 196,000 291,000 486,000 323,000 263,000% change on year 2.1% -1.0% 2.1% 0.4% 2.1% 4.7% 2.0% 4.1%

Net fiscal balance per head 2018/19, £ -623 -2,090 -1,323 -2,545 661 4,350 2,375 -999

Number of businesses 2019, thousands 5,868 429 356 480 599 1092 940 562Annual % change in businesses 2019, % change on year 3.5% 7.0% -3.1% 7.0% 6.0% -0.4% 7.6% 2.8%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound averageSources: See section 14. Notes and Sources

Page 6: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

6 Regional and country economic indicators

Employment rate, February - April 2020% of 16-64 year olds in work

66%

68%

70%

72%

74%

76%

78%

80%

82%

UK rate

Unemployment rate, February - April 2020%

0%

1%

2%

3%

4%

5%

6%

UK rate

Net fiscal balance per head2018/19, £

-6,000

-4,000

-2,000

0

2,000

4,000

6,000

Forecast economic growth, 2020 and 2019-30%, Oxford Economics forecasts, real terms

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

Projected GVA growth, 2020 Projected annual growth, 2019-30

Page 7: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

7 Regional and country economic indicators

Average house pricesMarch 2020, £

0

100,000

200,000

300,000

400,000

500,000

UK average

GVA per head2018, £

0

10,000

20,000

30,000

40,000

50,000

60,000

GVA per head1998-2018, £

0

10,000

20,000

30,000

40,000

50,000

60,00019

98

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

London

England

ScotlandNI

Wales

Page 8: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

8 Regional and country economic indicators

1. North East

North East Population2018 mid-year estimates Millions 2.7

EconomyTotal output (GDP), 2018 £ billions 63Total output (GDP) per head, 2018 £ 23,569Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 0.5%

Forecast economic growth (GVA, real terms)*2020 % change on year -6.0%2019-30** Average annual % change 0.8%

Labour market, January - March 2020Employment level Thousands 1Employment rate % of population aged 16-64 73.9%

Unemployment level Thousands 68Unemployment rate % of economically active 5.2%

Median weekly earnings, 2018 £, full time employees 531

Industries - employment, October - December 2019Manufacturing % of total jobs 9.6%Public sector % of total employment 19.7%

House prices, March 2020Average £ 127,000Annual change % change on year 1.8%

Fiscal indicators, 2018/19Public sector revenue per head £ 9,495Public sector expenditure per head £ 13,560Net fiscal balance per head £ -4,064

BusinessesNumber of businesses, 2019 Thousands 152Annual % change in businesses, 2019 % change on year -6.9%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound av

Sources: See section 14. Notes and Sources

Page 9: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

9 Regional and country economic indicators

2. North West

North WestPopulation2018 mid-year estimates Millions 7.3

EconomyTotal output (GDP), 2018 £ billions 207Total output (GDP) per head, 2018 £ 28,449Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 1.7%

Forecast economic growth (GVA, real terms)*2020 % change on year -5.2%2019-30** Average annual % change 1.2%

Labour market, January - March 2020Employment level Thousands 4Employment rate % of population aged 16-64 75.9%

Unemployment level Thousands 151Unemployment rate % of economically active 4.1%

Median weekly earnings, 2018 £, full time employees 556

Industries - employment, October - December 2019Manufacturing % of total jobs 9.0%Public sector % of total employment 17.5%

House prices, March 2020Average £ 166,000Annual change % change on year 3.4%

Fiscal indicators, 2018/19Public sector revenue per head £ 10,159Public sector expenditure per head £ 12,939Net fiscal balance per head £ -2,780

BusinessesNumber of businesses, 2019 Thousands 579Annual % change in businesses, 2019 % change on year 6.2%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound av

Sources: See section 14. Notes and Sources

Page 10: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

10 Regional and country economic indicators

3. Yorkshire and the Humber

Yorkshire and The HumberPopulation2018 mid-year estimates Millions 5.5

EconomyTotal output (GDP), 2018 £ billions 142Total output (GDP) per head, 2018 £ 25,859Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 1.3%

Forecast economic growth (GVA, real terms)*2020 % change on year -6.1%2019-30** Average annual % change 1.0%

Labour market, January - March 2020Employment level Thousands 3Employment rate % of population aged 16-64 74.0%

Unemployment level Thousands 106Unemployment rate % of economically active 3.9%

Median weekly earnings, 2018 £, full time employees 540

Industries - employment, October - December 2019Manufacturing % of total jobs 10.7%Public sector % of total employment 18.1%

House prices, March 2020Average £ 159,000Annual change % change on year -1.0%

Fiscal indicators, 2018/19Public sector revenue per head £ 10,188Public sector expenditure per head £ 12,278Net fiscal balance per head £ -2,090

BusinessesNumber of businesses, 2019 Thousands 429Annual % change in businesses, 2019 % change on year 7.0%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 11: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

11 Regional and country economic indicators

4. East Midlands

East MidlandsPopulation2018 mid-year estimates Millions 4.8

EconomyTotal output (GDP), 2018 £ billions 125Total output (GDP) per head, 2018 £ 25,946Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 1.7%

Forecast economic growth (GVA, real terms)*2020 % change on year -5.0%2019-30** Average annual % change 1.2%

Labour market, January - March 2020Employment level Thousands 2Employment rate % of population aged 16-64 78.1%

Unemployment level Thousands 91Unemployment rate % of economically active 3.7%

Median weekly earnings, 2018 £, full time employees 547

Industries - employment, October - December 2019Manufacturing % of total jobs 11.9%Public sector % of total employment 15.6%

House prices, March 2020Average £ 195,000Annual change % change on year 2.1%

Fiscal indicators, 2018/19Public sector revenue per head £ 10,461Public sector expenditure per head £ 11,784Net fiscal balance per head £ -1,323

BusinessesNumber of businesses, 2019 Thousands 356Annual % change in businesses, 2019 % change on year -3.1%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 12: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

12 Regional and country economic indicators

5. West Midlands

West MidlandsPopulation2018 mid-year estimates Millions 5.9

EconomyTotal output (GDP), 2018 £ billions 160Total output (GDP) per head, 2018 £ 27,087Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 2.5%

Forecast economic growth (GVA, real terms)*2020 % change on year -6.6%2019-30** Average annual % change 0.9%

Labour market, January - March 2020Employment level Thousands 3Employment rate % of population aged 16-64 74.5%

Unemployment level Thousands 141Unemployment rate % of economically active 4.8%

Median weekly earnings, 2018 £, full time employees 551

Industries - employment, October - December 2019Manufacturing % of total jobs 10.3%Public sector % of total employment 15.8%

House prices, March 2020Average £ 196,000Annual change % change on year 0.4%

Fiscal indicators, 2018/19Public sector revenue per head £ 9,959Public sector expenditure per head £ 12,503Net fiscal balance per head £ -2,545

BusinessesNumber of businesses, 2019 Thousands 480Annual % change in businesses, 2019 % change on year 7.0%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 13: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

13 Regional and country economic indicators

6. East of England

East of EnglandPopulation2018 mid-year estimates Millions 6.2

EconomyTotal output (GDP), 2018 £ billions 186Total output (GDP) per head, 2018 £ 30,069Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 2.3%

Forecast economic growth (GVA, real terms)*2020 % change on year -5.4%2019-30** Average annual % change 1.3%

Labour market, January - March 2020Employment level Thousands 3Employment rate % of population aged 16-64 78.0%

Unemployment level Thousands 118Unemployment rate % of economically active 3.6%

Median weekly earnings, 2018 £, full time employees 610

Industries - employment, October - December 2019Manufacturing % of total jobs 7.2%Public sector % of total employment 14.9%

House prices, March 2020Average £ 291,000Annual change % change on year 2.1%

Fiscal indicators, 2018/19Public sector revenue per head £ 12,433Public sector expenditure per head £ 11,772Net fiscal balance per head £ 661

BusinessesNumber of businesses, 2019 Thousands 599Annual % change in businesses, 2019 % change on year 6.0%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 14: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

14 Regional and country economic indicators

7. London

LondonPopulation2018 mid-year estimates Millions 8.9

EconomyTotal output (GDP), 2018 £ billions 487Total output (GDP) per head, 2018 £ 54,686Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 3.1%

Forecast economic growth (GVA, real terms)*2020 % change on year -4.1%2019-30** Average annual % change 1.8%

Labour market, January - March 2020Employment level Thousands 5Employment rate % of population aged 16-64 76.4%

Unemployment level Thousands 234Unemployment rate % of economically active 4.6%

Median weekly earnings, 2018 £, full time employees 699

Industries - employment, October - December 2019Manufacturing % of total jobs 2.1%Public sector % of total employment 13.6%

House prices, March 2020Average £ 486,000Annual change % change on year 4.7%

Fiscal indicators, 2018/19Public sector revenue per head £ 18,177Public sector expenditure per head £ 13,826Net fiscal balance per head £ 4,350

BusinessesNumber of businesses, 2019 Thousands 1,092Annual % change in businesses, 2019 % change on year -0.4%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 15: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

15 Regional and country economic indicators

8. South East

South EastPopulation2018 mid-year estimates Millions 9.1

EconomyTotal output (GDP), 2018 £ billions 311Total output (GDP) per head, 2018 £ 34,083Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 1.6%

Forecast economic growth (GVA, real terms)*2020 % change on year -4.7%2019-30** Average annual % change 1.5%

Labour market, January - March 2020Employment level Thousands 5Employment rate % of population aged 16-64 79.5%

Unemployment level Thousands 146Unemployment rate % of economically active 3.0%

Median weekly earnings, 2018 £, full time employees 636

Industries - employment, October - December 2019Manufacturing % of total jobs 6.0%Public sector % of total employment 14.5%

House prices, March 2020Average £ 323,000Annual change % change on year 2.0%

Fiscal indicators, 2018/19Public sector revenue per head £ 14,341Public sector expenditure per head £ 11,967Net fiscal balance per head £ 2,375

BusinessesNumber of businesses, 2019 Thousands 940Annual % change in businesses, 2019 % change on year 7.6%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 16: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

16 Regional and country economic indicators

9. South West

South WestPopulation2018 mid-year estimates Millions 5.6

EconomyTotal output (GDP), 2018 £ billions 158Total output (GDP) per head, 2018 £ 28,231Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 1.6%

Forecast economic growth (GVA, real terms)*2020 % change on year -5.3%2019-30** Average annual % change 1.2%

Labour market, January - March 2020Employment level Thousands 3Employment rate % of population aged 16-64 78.9%

Unemployment level Thousands 86Unemployment rate % of economically active 3.0%

Median weekly earnings, 2018 £, full time employees 561

Industries - employment, October - December 2019Manufacturing % of total jobs 8.0%Public sector % of total employment 15.7%

House prices, March 2020Average £ 263,000Annual change % change on year 4.1%

Fiscal indicators, 2018/19Public sector revenue per head £ 11,406Public sector expenditure per head £ 12,405Net fiscal balance per head £ -999

BusinessesNumber of businesses, 2019 Thousands 562Annual % change in businesses, 2019 % change on year 2.8%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 17: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

17 Regional and country economic indicators

10. England

EnglandPopulation2018 mid-year estimates Millions 56.0

EconomyTotal output (GDP), 2018 £ billions 1,839Total output (GDP) per head, 2018 £ 32,857Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 2.1%

Forecast economic growth (GVA, real terms)*2020 % change on year -5.0%2019-30** Average annual % change 1.4%

Labour market, January - March 2020Employment level Thousands 27,982Employment rate % of population aged 16-64 76.8%

Unemployment level Thousands 1,142Unemployment rate % of economically active 3.9%

Median weekly earnings, 2018 £, full time employees 591

Industries - employment, October - December 2019Manufacturing % of total jobs 7.4%Public sector % of total employment 15.6%

House prices, March 2020Average £ 248,000Annual change % change on year 2.2%

Fiscal indicators, 2018/19Public sector revenue per head £ 12,470Public sector expenditure per head £ 12,559Net fiscal balance per head £ -89

BusinessesNumber of businesses, 2019 Thousands 5,188Annual % change in businesses, 2019 % change on year 3.7%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 18: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

18 Regional and country economic indicators

11. Wales

WalesPopulation2018 mid-year estimates Millions 3.1

EconomyTotal output (GDP), 2018 £ billions 75Total output (GDP) per head, 2018 £ 23,866Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 1.7%

Forecast economic growth (GVA, real terms)*2020 % change on year -5.7%2019-30** Average annual % change 1.0%

Labour market, January - March 2020Employment level Thousands 1,489Employment rate % of population aged 16-64 74.4%

Unemployment level Thousands 47Unemployment rate % of economically active 3.0%

Median weekly earnings, 2018 £, full time employees 541

Industries - employment, October - December 2019Manufacturing % of total jobs 10.4%Public sector % of total employment 20.7%

House prices, March 2020Average £ 162,000Annual change % change on year 1.1%

Fiscal indicators, 2018/19Public sector revenue per head £ 9,391Public sector expenditure per head £ 13,698Net fiscal balance per head £ -4,307

BusinessesNumber of businesses, 2019 Thousands 222Annual % change in businesses, 2019 % change on year 11.9%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 19: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

19 Regional and country economic indicators

12. Scotland

ScotlandPopulation2018 mid-year estimates Millions 5.4

EconomyTotal output (GDP), 2018 £ billions 161Total output (GDP) per head, 2018 £ 29,660Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 1.5%

Forecast economic growth (GVA, real terms)*2020 % change on year -4.7%2019-30** Average annual % change 1.2%

Labour market, January - March 2020Employment level Thousands 2,652Employment rate % of population aged 16-64 74.3%

Unemployment level Thousands 127Unemployment rate % of economically active 4.6%

Median weekly earnings, 2018 £, full time employees 578

Industries - employment, October - December 2019Manufacturing % of total jobs 6.9%Public sector % of total employment 21.3%

House prices, March 2020Average £ 152,000Annual change % change on year 1.5%

Fiscal indicators, 2018/19Public sector revenue per head £ 12,015Public sector expenditure per head £ 14,497Net fiscal balance per head £ -2,482

BusinessesNumber of businesses, 2019 Thousands 334Annual % change in businesses, 2019 % change on year 0.8%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound a

Sources: See section 14. Notes and Sources

Page 20: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

20 Regional and country economic indicators

13. Northern Ireland

Northern Ireland UKPopulation2018 mid-year estimates Millions 1.9 66.4

EconomyTotal output (GDP), 2018 £ billions 49 2,140Total output (GDP) per head, 2018 £ 25,981 32,216Economic Growth (GDP), 2010-18** Annual ave real terms % ch. 1.7% 1.9%

Forecast economic growth (GVA, real terms)*2020 % change on year -4.7% -5.0%2019-30** Average annual % change 1.1% 1.3%

Labour market, February - April 2020Employment level Thousands 868 32,991Employment rate % of population aged 16-64 71.6% 76.4%

Unemployment level Thousands 20 1,336Unemployment rate % of economically active 2.3% 3.9%

Median weekly earnings, 2018 £, full time employees 535 585

Industries - employment, October - December 2019Manufacturing % of total jobs 10.2% 7.5%Public sector % of total employment 24.8% 16.5%

House prices, March 2020Average £ 141,000 232,000Annual change % change on year 3.8% 2.1%

Fiscal indicators, 2018/19Public sector revenue per head £ 9,825 12,213Public sector expenditure per head £ 14,821 12,835Net fiscal balance per head £ -4,996 -623

BusinessesNumber of businesses, 2019 Thousands 124 5,868Annual % change in businesses, 2019 % change on year -6.4% 3.5%

* Forecasts from Oxford Economics (April 2020); **Annual ave growth is a compound average

Sources: See section 14. Notes and Sources

Page 21: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

21 Regional and country economic indicators

14. Notes and Sources

Notes SourcePopulationMid-year estimates Millions ONS, Mid-year population estimates, via NOMIS

EconomyTotal output (GVA) Latest year data is available ONS, Regional Gross Value Added (Balanced)Total output (GVA) per head Latest year data is available ONS, Regional Gross Value Added (Balanced)Economic Growth (GVA), 2010-16 Annual average real terms % change ONS, Regional Gross Value Added (Balanced)

Forecast economic growth (GVA, real terms)2018 % change on year Oxford Economic, UK Regional Economic Outlook2018-2028 Average annual % change Oxford Economic, UK Regional Economic Outlook

Labour marketEmployment level All ages ONS, Labour Market Statistics, Table A07Employment rate % of all 16-64 year olds in work ONS, Labour Market Statistics, Table A07Unemployment level All economically active people over 16 out of work ONS, Labour Market Statistics, Table A07Unemployment rate % of economically active people unemployed ONS, Labour Market Statistics, Table A07Median weekly earnings Gross earnings of full time employees (excludes self-emp.) ONS, Annual Survey of Hours and Earnings, via NOMIS

Industries - employmentManufacturing % of all workforce jobs in manufacturing ONS, Labour Market Statistics, Table JOBS05, via NOMISPublic sector % of total employment in public sector ONS, Public Sector Employment, Table 6

House pricesAverage Mix-adjusted average price - all dwellings - not seasonally ad. ONS, House Price Index, Table 2Annual change Mix-adjusted change on year ONS, House Price Index, Table 1

Fiscal indicatorsPublic sector revenue per head £ ONS, Country and Regional Public Sector Finances Table S5Public sector expenditure per head £ ONS, Country and Regional Public Sector Finances Table S6Net fiscal balance per head £ ONS, Country and Regional Public Sector Finances Table S4

BusinessesNumber of businesses All businesses BEIS, Business Population Estimates, Table 26Annual % change in businesses All businesses BEIS, Business Population Estimates, Table 26

Page 22: By Daniel Harari economic indicators Matthew Ward · Economic statistics, summary comparison Latest available figures UK England Scotland Wales N. Ireland North East North West Population

BRIEFING PAPER Number 06924, 19 June 2020

The House of Commons Library research service provides MPs and their staff with the impartial briefing and evidence base they need to do their work in scrutinising Government, proposing legislation, and supporting constituents.

As well as providing MPs with a confidential service we publish open briefing papers, which are available on the Parliament website.

Every effort is made to ensure that the information contained in these publically available research briefings is correct at the time of publication. Readers should be aware however that briefings are not necessarily updated or otherwise amended to reflect subsequent changes.

If you have any comments on our briefings please email [email protected]. Authors are available to discuss the content of this briefing only with Members and their staff.

If you have any general questions about the work of the House of Commons you can email [email protected].

Disclaimer - This information is provided to Members of Parliament in support of their parliamentary duties. It is a general briefing only and should not be relied on as a substitute for specific advice. The House of Commons or the author(s) shall not be liable for any errors or omissions, or for any loss or damage of any kind arising from its use, and may remove, vary or amend any information at any time without prior notice.

The House of Commons accepts no responsibility for any references or links to, or the content of, information maintained by third parties. This information is provided subject to the conditions of the Open Parliament Licence.