EMPLOYMENT in Manchester is to grow by up to 0.7 over the next three years, according to an economic forecast produced by EY.
Arts, administration and support real estate are all expected to see an employment growth of up to 1.8%, and over the 2016-2019 period economic growth is expected to slow at 2%.
Julia Ruane, a media relations executive at EY, explained further. “Manchester is the fastest growing city in the North, both in 2016 and in the period 2017-19.
“We forecast that Manchester will experience the second fastest employment growth of all the cities that we cover (0.7% a year over the 2017-19 period), reflecting the transformation that has occurred in perceptions of the city, and significant investment in key assets.”
Liverpool and Leeds, two of Manchester’s closest neighbours are set to see steady economic growth in their forecasts, with employment expected to grow 0.3% in 2016 and 1.1 in 2017-19 in Leeds, whereas Liverpool are expected to grow a slightly less 0.2% in 2016 – but like Leeds are expected a steady 1.1 growth rate over 2017-19.
— EY UKI (@EY_UKI) December 7, 2016
Still trailing behind the south however, Manchester has ground to make up. With DevoManc coming into power next year – Manchester will be allocated its very first own metro mayor.
“Devolution is a clear step in the right direction but enabling the regions alone will not be sufficient. Other elements of national policy must be designed to complement the industrial and regional strategy” said Julia.
Julia continues “The key components of this policy will be a trade strategy which links all the elements of UK trade in the context of the industrial strategy, a commitment to deliver infrastructure that has to go beyond the welcome first steps in the Autumn Statement and investment in the region’s skills.”
Bob Ward, the incoming EY North West Senior Partner believes the north west must not give up trying to change national policy despite devolution.
“It is important that the North West continues to agitate for changes to National policy through targeted initiatives to support trade, improve infrastructure, invest in skills and key sectors such as technology.”
By Daniel Willis