Strategic Commissioning ‐ Analytics, Kent County Council www.kent.gov.uk/research Kent Economic Indicators 2019 April 2019 Kent Economic Indicators 2019 Related Documents This bulletin presents a picture of the shape of the economy at county and district level based on eleven economic indicators. The analysis uses two models; one at County level, the other at District level. The County-level model summarises a range of indicators for all 152 County and Unitary Authorities in England. The District-level model does the same for the 326 District and Unitary Authorities in England. In both models, the spider chart shows the “shape” of the economy of each area, based on these indicators. The 2019 charts are presented here. The models also identify each area’s nearest economic neighbour i.e. that area with the most similar shaped economy, based on these indicators. This comparison is helpful in identifying areas with a similar ranking score on each indicator. Economy & Employment Data Provides a wide range of reports looking at: Business in Kent Earnings & Income Economic Indicators Employment Unemployment & Benefits Kent’s Workforce Contact details Strategic Commissioning - Analytics: Kent County Council Sessions House Maidstone Kent ME14 1XQ Email: [email protected]Tel: 03000 417444
Transcript
Strategic Commissioning ‐ Analytics, Kent County Councilwww.kent.gov.uk/research
Kent Economic Indicators 2019 April 2019
Kent Economic Indicators 2019
Related Documents
This bulletin presents a picture of the shape of the economy at county and district level based on eleven economic indicators. The analysis uses two models; one at County level, the other at District level. The County-level model summarises a range of indicators for all 152 County and Unitary Authorities in England. The District-level model does the same for the 326 District and Unitary Authorities in England. In both models, the spider chart shows the “shape” of the economy of each area, based on these indicators. The 2019 charts are presented here. The models also identify each area’s nearest economic neighbour i.e. that area with the most similar shaped economy, based on these indicators. This comparison is helpful in identifying areas with a similar ranking score on each indicator.
Economy & Employment Data Provides a wide range of reports looking at:
Business in Kent
Earnings & Income
Economic Indicators
Employment
Unemployment & Benefits
Kent’s Workforce Contact details Strategic Commissioning - Analytics: Kent County Council Sessions House Maidstone Kent ME14 1XQ Email: [email protected] Tel: 03000 417444
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 2
Methodology
The County-level model summarises a range of indicators for all 152 County and Unitary Authorities in England, ranks the indicators and then converts the ranks to percent-ranks (a rank score out of 100). This standardises all the scores and enables direct comparison of what are very disparate indicator values.
The District-level model does the same for the 326 District and Unitary Authorities in England. In the District-level model, one indicator has been changed slightly to reflect the scale of the local economy; the stock of VAT registered businesses is used rather than net VAT registrations as a percentage of stock, which are used at County level.
In ranking the indicators, the order in which they are ranked has been set so that the higher the score the “better” the outcome. So, for example the earnings indicators are ranked in ascending order where the highest earnings (good) have a percent rank score of 100. In the case of unemployment however, the indicators are ranked in descending order, so that the lowest unemployment rates (good) have a percent rank score of 100. In short; the larger the economic “shape” in the chart (i.e. the closer to 100 the percent rank score is) the better.
In both models, the resulting spider chart therefore literally shows the “shape” of the economy of each area, based on these indicators.
The analysis also identifies each area’s nearest economic neighbour i.e. that area with the most similar shaped economy, based on these indicators. This comparison is helpful in identifying areas with a similar ranking score on each indicator.
A fall in national ranking does not necessarily mean that an area is performing badly, it could mean that other areas are performing better than in previous years so lowering the rank of other areas.
Comparisons are available for the publication years of 2015 to 2019 for any district/unitary authority or county/unitary authority in England on request.
This bulletin will be updated in Spring 2020.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 3
Indicators
11 indicators are used within the district and county models.
Unemployment – taken from the ONS Annual Population Survey model-based estimates of unemployment. This shows the percentage of all people aged 16+ without a job who were available to start work in the two weeks following their interview and who had either looked for work in the four weeks prior to interview or were waiting to start a job they had already obtained.
Job Density – This is an indicator of labour demand in an area showing the number of jobs available per working age resident. It is calculated by dividing the number of jobs in an area by the resident population aged 16-64. A job density of 1.0 would mean that there is one job for every resident aged 16-64. A density of less than 1 indicates there are fewer than 1 job per resident. The total number of jobs is a workplace-based measure and comprises employee jobs, self-employed, government-supported trainees and HM Forces.
Employees – This looks at the change in number of employees over the previous five years. This indicator uses Business Register and Employment Survey (BRES) data.
Employees in the Knowledge Economy – using figures from the BRES this shows the proportion of employees who are employed in the Knowledge Economy. The Knowledge Economy comprises those industries whose main purpose centres on knowledge or information, from highly technical industries and knowledge intensive services to creative industries. The knowledge economy has been identified as a key sector to drive future economic growth.
Employment rate –This shows the proportion of those aged 16-64 who are in employment using data from the Annual Population Survey.
Earnings – Using data from the Annual Survey of Hours and Earnings this looks at the average (median) weekly earnings on a resident and workplace basis.
GVA – Using Office for National Statistics estimates which shows the GVA (the value of the goods and services produced in the economy) which is used to measure the overall economic well-being of an area.
Business Stock – at district level this gives a snapshot of the number of vat registered businesses in the area. At county level this is presented as the net change in stock of businesses as a proportion of all businesses. This data comes from the ONS Business Demography dataset.
3 Year Survival Rates – this shows the proportion of new businesses which remain surviving after 3 years of trading. This data comes from the ONS Business Demography dataset.
NVQ4+ - Using figures from the Annual Population Survey this shows the proportion of the population aged 16-64 who are qualified to NVQ level 4 or above. This is based on a sample survey and results at district level may fluctuate.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 4
Publication dates/survey dates
The spider charts are published on the basis of what is available at the time of publishing. The spider chart for 2019 therefore shows the latest data that is available as at April for each of the indicators. Some datasets lag behind others in terms of their release date compared to their actual survey date. The following table sets out the actual survey dates for each dataset that are used in each spider chart published.
Tables and charts
The following pages show:
Table Time-series table of the indicator values Nearest neighbour chart Chart showing the shape of the local economy of each area and its nearest neighbour (closest in the “shape” of its economy). Map Showing the geographical location of each area and its nearest neighbour Performance chart Chart showing how the shape of each area’s economy has changed over the last five years.
These are available for the Kent County Council area, the twelve local authority districts in Kent and Medway.
2015 2016 2017 2018 2019
Job Density 2013 2014 2015 2016 2017
Model based unemployment (%) 2014 2015 2016 2017 2018
5 year % change in employees 2013 2014 2015 2016 2017
Net change in businesses as a % of stock 2013 2014 2015 2016 2017
3‐year Business Survival Rate (%) 2013 2014 2015 2016 2017
GVA per Head (£) 2013 2014 2015 2016 2017
% Employees in the Knowledge Economy 2013 2014 2015 2016 2017
% NVQ4+ 2014 2015 2016 2017 2018
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 5
Kent County Council area
Kent ranks above the national median in the following indicators: resident earnings, employment rate, 5 year percentage change in employees, 3 year business survival rate, employees in the knowledge economy and job density.
The area with an economic profile most similar to Kent is Bedford in the East of England.
Data values ‐ actual indicator values for the selected area
5 year % change in employees ‐0.1 4.2 7.7 8.5 11.8
Net change in businesses as a % of stock 2.6 3.6 3.4 2.5 0.5
3‐year Business Survival Rate (%) 58.4 60.3 59.6 62.4 63.3
GVA per Head (£) 20,469 21,194 21,799 22,395 23,149
% Employees in the Knowledge Economy 15.1 16.8 16.6 16.5 14.9
% NVQ4+ 32.4 34.3 36.9 33.6 35.4
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 6
Over the last five years the shape of the Kent economy has remained largely the same with a couple of exceptions: an increase in levels of unemployment puts Kent below the national median. Kent ranked higher than in previous years in 5 year change in employees and 3 year business survival rates
A fall in national ranking does not necessarily mean that Kent is performing badly, it could mean that other areas are performing better than in previous years so lowering the Kent rank.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 7
Ashford
Data values
Ashford ranks well above the national median for employment rate, 5 year percentage employee change and job density. Ashford’s lowest ranking indicator is NVQ4+ qualifications where it ranks among the bottom 20% of authorities in England.
Ashford’s nearest economic neighbour is Maidstone district.
3‐year Business Survival Rate (%) 56.9 59.5 58.4 61.0 63.6
GVA per Head (£) 21,639 21,868 22,905 23,773 24,089
% Employees in the Knowledge Economy 14.4 14.0 13.3 12.6 10.7
% NVQ4+ 35.0 33.0 29.1 24.4 28.9
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 8
The most notable positive change over the last five years in Ashford’s economic performance has been its improved ranking compared to other authorities for job density, employment rate, workplace earnings, employee change and 3 year business survival rate. Ashford compares worse for knowledge economy employees and NVQ4+ than in 2015.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 9
Canterbury
Data values
Compared to other local authorities, Canterbury scores particularly highly in Knowledge Economy employees and 5 year percentage change in employees. It ranks within the top 20% of county/unitary authorities in England for both indicators.
Canterbury scores below the national median in 6 indicators, most significantly for employment rate, 3 year business survival rates and model based unemployment rate.
The authority with the closest economic profile to Canterbury is North Tyneside.
5 year % change in employees ‐2.1 5.8 4.1 10.2 16.3
Stock of businesses 5,280 5,405 5,560 5,745 5,825
3‐year Business Survival Rate (%) 56.3 61.9 62.6 60.1 60.0
GVA per Head (£) 19,098 19,683 18,854 18,656 19,622
% Employees in the Knowledge Economy 23.1 25.6 22.0 25.8 22.1
% NVQ4+ 29.4 40.1 45.9 38.7 37.2
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 10
Canterbury’s most significant change since 2015 is an improvement in it’s ranking for 5 year employee change. Canterbury’s scores compared with other local authorities for employment rate, % with NVQ4+ and model based unemployment rate have fallen significantly.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 11
Dartford
Data values
Dartford scores significantly higher than the national median in seven of the eleven indicators. It ranks within the top 20% of authorities in the country in job density, workplace earnings and GVA per head. It ranks among the top 5% in the country for employment rate. It ranks significantly below the national median in employees in the knowledge economy and 5 year percentage employee change.
Dartford’s closest economic neighbour is Fareham in Hampshire.
5 year % change in employees 8.2 19.3 24.3 20.7 2.5
Stock of businesses 3,680 3,930 4,270 4,655 4,925
3‐year Business Survival Rate (%) 49.4 62.8 62.5 59.5 63.5
GVA per Head (£) 29,671 31,624 33,477 34,147 34,888
% Employees in the Knowledge Economy 10.7 11.0 10.8 10.3 10.5
% NVQ4+ 30.0 32.5 32.1 41.7 46.0
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 12
Overall Dartford has seen significant improvement in its ranking compared to other authorities in the following indicators: employment rate, NVQ4+ and 3 year business survival rates.
Dartford has seen a huge fall in its ranking compared to other authorities in 5 year percentage change in employees.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 13
Dover
Data values
Dover compares well compared to other areas for unemployment and both resident and workplace earnings, and very well for employment rate and 5 year percentage employee change. It ranks below the median level in the remaining 6 indicators, most notably Job density, GVA per head and stock of businesses where it is within the bottom 20% of authorities in the country.
The authority which has the most similar shape to Dover is East Northamptonshire.
5 year % change in employees ‐12.2 ‐7.5 2.0 2.8 14.2
Stock of businesses 3,305 3,345 3,390 3,565 3,640
3‐year Business Survival Rate (%) 53.8 55.1 55.9 59.1 61.7
GVA per Head (£) 19,076 19,900 20,481 19,321 19,499
% Employees in the Knowledge Economy 10.1 11.1 10.8 12.1 10.3
% NVQ4+ 28.6 27.8 32.8 34.4 36.5
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 14
Dover’s economic shape has grown significantly for the following indicators: employment rate and 5 year percentage change in employees. Dover’s ranking compared to other authorities fell for both resident and workplace earnings, however it still performs above the national average in both these indicators.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 15
Folkestone & Hythe
Data values
Folkestone & Hythe scores below the national median in all indicators. It ranks fifth lowest in the country in 5 year employee change and in the bottom 5% of authorities for proportion of people with NVQ4+. Folkestone & Hythe’s highest scoring indicators are GVA per head, unemployment rate and workplace earnings, however these are still below the national median.
Tamworth in Staffordshire has the most similar economic profile to Folkestone & Hythe.
5 year % change in employees 0.0 ‐2.0 ‐4.0 ‐8.3 ‐3.8
Stock of businesses 3,675 3,735 3,855 4,080 4,150
3‐year Business Survival Rate (%) 56.7 46.6 42.5 59.6 58.9
GVA per Head (£) 18,129 17,414 17,585 19,786 21,772
% Employees in the Knowledge Economy 12.7 13.5 12.4 13.7 11.4
% NVQ4+ 25.7 22.8 32.1 36.2 20.1
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 16
Folkestone & Hythe’s ranking compared to other authorities has fallen in all but one indicator. The most significant fall is in 5 year employee change. Since 2015 its ranking has improved slightly in GVA per head.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 17
Gravesham
Data values
Gravesham performs above the national median in the following indicators: workplace and resident earnings, employment rate, 3 year business survival rate and 5 year change in employees, however it is among the 20% of authorities in the country with the lowest GVA per head, the smallest proportion of employees in the Knowledge Economy, the lowest resident population qualified to NVQ4+ and the lowest job density.
The authority which is most similar to Gravesham is South Staffordshire.
5 year % change in employees ‐6.0 4.7 11.7 22.1 23.9
Stock of businesses 3,365 3,585 3,925 4,230 4,405
3‐year Business Survival Rate (%) 56.7 61.7 61.2 58.9 65.2
GVA per Head (£) 12,858 13,424 13,359 13,707 13,918
% Employees in the Knowledge Economy 8.5 8.9 8.4 9.0 7.0
% NVQ4+ 37.8 42.9 43.7 32.7 28.4
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 18
Since 2015 Gravesham’s ranking compared to other authorities has improved significantly when looking at the 5 year change in employees, 3 year business survival rates and employment rate. Its ranking has dropped when looking at unemployment, workplace and resident earnings and NVQ4+. It has one of the lowest levels of GVA per head and proportions of knowledge economy employees in the country
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 19
Maidstone
Data values
Maidstone scores above the national median in all indicators with the exception of NVQ4+, 5 year employee change and proportion of employees in the Knowledge Economy.
New Forest in Hampshire has the most similar economic shape to Maidstone.
5 year % change in employees ‐5.4 ‐0.6 8.0 11.1 9.9
Stock of businesses 6,885 7,080 7,410 7,755 7,935
3‐year Business Survival Rate (%) 61.7 63.1 62.5 65.3 64.7
GVA per Head (£) 21,993 22,241 22,371 23,708 24,456
% Employees in the Knowledge Economy 13.5 13.5 14.4 13.5 12.0
% NVQ4+ 31.2 35.8 43.7 34.5 35.4
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 20
Over recent years Maidstone’s ranking has improved significantly compared to other authorities in unemployment, resident and workplace earnings. While its ranking has significantly improved for 5 year employee change, Maidstone still remains below the national median.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 21
Sevenoaks
Data values
Sevenoaks ranks well above the median in all indicators with the exception of the employment rate.
The authority which has the most similar economic shape to Sevenoaks is Uttlesford in Essex.
5 year % change in employees 5.7 11.1 13.9 14.6 22.8
Stock of businesses 6,730 6,745 7,010 7,190 7,145
3‐year Business Survival Rate (%) 63.9 62.1 61.9 64.7 64.6
GVA per Head (£) 22,489 23,623 24,154 24,626 26,870
% Employees in the Knowledge Economy 20.1 20.4 18.6 22.8 24.5
% NVQ4+ 41.0 49.6 30.4 39.6 44.1
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 22
Over the last few years Sevenoaks’ scores compared to other authorities have improved in GVA per head, knowledge economy employees, people qualified to NVQ4+, job density and 5 year employee change however it’s ranking has fallen in all other indicators.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 23
Swale
Data values
Swale ranks significantly higher than the national median in 3 year business survival rates and 5 year employee change, both of which places Swale within the top 20% of authorities in the country. Swale’s lowest indicator scores are unemployment rate and employment rate where it ranks within the bottom 10% in the country.
Barking and Dagenham is the authority with the most similar economic shape to Swale.
5 year % change in employees 4.5 9.7 10.8 17.9 17.7
Stock of businesses 4,405 4,545 4,780 5,085 5,185
3‐year Business Survival Rate (%) 62.8 61.1 61.8 67.0 67.0
GVA per Head (£) 16,706 17,020 17,744 17,836 18,290
% Employees in the Knowledge Economy 10.3 11.1 11.1 12.1 10.0
% NVQ4+ 27.9 23.8 33.5 22.6 31.7
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 24
Swale has seen a small improvement in it’s ranking for both workplace and resident earnings and 5 year employee change. The most significant fall when compared with other authorities is in employment rate and unemployment rate.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 25
Thanet
Data values
Thanet ranks below the national median in all indicators. Its scores best in 5 year employee change. It is among the bottom 10% of local authorities for knowledge economy employees and workplace earnings.
The authority with the most similar economic shape to Thanet is Hastings in East Sussex.
5 year % change in employees ‐2.0 ‐0.6 4.5 3.2 8.7
Stock of businesses 3,655 3,775 3,935 4,210 4,325
3‐year Business Survival Rate (%) 54.5 58.8 59.0 59.8 61.0
GVA per Head (£) 15,135 15,237 15,625 16,068 16,648
% Employees in the Knowledge Economy 9.5 9.4 10.2 10.4 8.3
% NVQ4+ 22.1 22.7 30.0 25.3 30.4
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 26
Over the last five years Thanet’s ranking has seen some improvement in all indicators with the exception of: unemployment rate, employment rate and knowledge economy employees.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 27
Tonbridge & Malling
Data values
Tonbridge and Malling ranks within the top 25% of authorities in the following indicators: resident earnings, employment rate and GVA per head. It ranks at or above the national median in all indicators with the exception of 5 year employee change and NVQ4+.
The area with the closest economic profile to Tonbridge and Malling is Test Valley in Hampshire.
3‐year Business Survival Rate (%) 60.2 63.6 60.6 62.2 65.0
GVA per Head (£) 26,471 28,435 28,645 28,218 29,606
% Employees in the Knowledge Economy 17.5 19.1 19.9 21.4 19.0
% NVQ4+ 43.1 36.2 34.9 35.2 35.9
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 28
While Tonbridge and Malling has performed slightly better in a number of indicators compared to 2015, it now ranks lower compared to other authorities in the following indicators: job density, workplace earnings and people qualified to NVQ4+. It has seen some significant improvement compared to other authorities in employment rate.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 29
Tunbridge Wells
Data values
Tunbridge Wells ranks well above the national median in five indicators, most notably resident earnings, knowledge economy employees and NVQ4+ which are each within the top 20% of all English authorities. It does, however, rank below the national, median for 3 year business survival rates, 5 year employee change and employment rate.
The authority with the most similar economic shape to Tunbridge Wells is Reigate and Banstead in Surrey.
5 year % change in employees ‐0.8 25.8 29.1 11.8 6.8
Stock of businesses 6,460 6,585 6,715 6,940 7,000
3‐year Business Survival Rate (%) 60.0 62.4 63.4 66.3 62.0
GVA per Head (£) 23,701 25,503 28,699 31,409 30,679
% Employees in the Knowledge Economy 23.4 32.9 35.7 25.5 23.5
% NVQ4+ 40.1 44.5 49.4 40.2 49.9
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 30
Tunbridge Wells ranks higher than in 2015 in three indicators; GVA per head, job density and NVQ4+. Its position has fallen most notably in workplace earnings, unemployment, 5 year employee change and 3 year business survival rates.
Strategic Commissioning - Analytics, Kent County Council www.kent.gov.uk/research
Page 31
Medway
Data values
When compared to other local authority districts and unitary authorities Medway ranks above the national median in three indicators: resident earnings, employment rate and stock of businesses. It ranks within the bottom 10% of authorities in the country for job density.
Medway’s closest economic neighbour is Southend-on-Sea.
