SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE

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Bath & NE North GVA millions SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE 215 SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE INTRODUCTING SOUTH GLOUCESTERSHIRE is located in the West of. The area has relatively high levels of economic prosperity, with one of the highest levels of employment in the country. Local residents consider their quality of life to be good, placing high value on the local environment and countryside. has well-established manufacturing industries such as aerospace and advanced engineering. High technology companies such as microelectronics and silicon design are now based in the area, and the and Bath Science Park (BBSP) has been developed to create over 6, skilled R&D jobs. The area has a diverse economy ranging from rural and home grown small and medium Enterprises to world leading companies in key high growth sectors vital to the national economic growth. These include aerospace, advanced engineering, defence, microelectronics and silicon chip design. hosts the and Bath Science Park, a world class environment for businesses in science and advanced technology, which incorporates the new National Composite Centre, the national leader on research and design. The district is also a centre of excellence for green and environmental technologies, animation and IT solutions. is home to the University of the West of, which plays a key part in supporting high standards of education and training for these cutting edge industries. The Mall at Cribbs Causeway, another major employer, provides extensive retail and commercial services. Both of these attract investment and help create a vibrant economic environment that benefits both businesses and communities. Working with partners across the West of and the Local Enterprise Partnership (LEP), Council continues to be part of successful partnerships delivering infrastructure and economic development. The council supports the LEP ambitions to deliver new jobs into the area by 23, attract substantial private sector investment over the next 5 years, and create a well-motivated workforce with the skills to meet business need and to build the foundations for a long term, sustainable economy. ECONOMIC PERFORMANCE SOUTH GLOUCESTERSHIRE HAD A 8. BILLION ECONOMY IN 211 The University of Plymouth s RED model of the regional economy estimated that the total economic output (GVA) of was valued at 8. billion in 211. This constituted 3.2 per cent of the West of s GVA of 26.5 billion in 211. FIGURE 1: TOTAL ECONOMIC OUTPUT IN 211 ( MILLIONS) 14, 12, 1, 8, 6, 4, 2, Source: RED Model, University of Plymouth. 152, JOBS IN SOUTH GLOUCESTERSHIRE IN 213 The economy of supported 152, jobs in 213. The early 2s witnessed a significant increase in jobs in the district (Figure 3). In 213 it was estimated that there were 138,8 employees working in (employees can hold more than one job, and this measure excludes exclude self-employment and government sponsored trainee jobs). As shown on the map in Figure 2, in the national strong employee growth (4. per cent) between 212 and 213 compared to other local authority areas across and Wales. Page 1

FIGURE 2: RATE OF GROWTH IN TOTAL EMPLOYEES 1 BETWEEN 212 AND 213 IN UPPER TIER AUTHORITY AREAS IN ENGLAND [RANKING AMONGST ALL LOCAL AUTHORITY DISTRICTS IN PARENTHESES] Jobs growth% [174] -9.3 - -3. [7] -3. -. [36] 3.5-6. [21].-1.5 [53] 1.5-3.5 [ 46] 6. - 14.6 [ 11] Source: Business Register and Employment Survey: Office for National Statistics. Contains National Statistics data Crown copyright and database right 215. Contains Ordnance Survey data Crown copyright and database right 215. 1 This refers to employee jobs, which are total jobs excluding the self-employed. Page 2

24 25 26 27 28 29 21 212 211 213 No. of active enterprises Bath & NE North West of 2 21 22 23 24 25 26 27 28 29 21 211 212 213 No. businesses per 1, working-age residents Total jobs SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE 215 FIGURE 3: TOTAL JOBS 2 TO 213 IN SOUTH GLOUCESTERSHIRE 18, 16, 14, 12, 1, 8, 6, 4, 2, Source: Jobs Density, Office for National Statistics. BUSINESS 56 BUSINESSES FOR EVERY 1, WORKING-AGE RESIDENTS In 213, had 56 active businesses for every 1, working-age residents. This was a lower rate of business density than found in the West of (61) and (62). FIGURE 5: ACTIVE ENTERPRISES PER 1, WORKNG- AGE RESIDENTS IN WEST OF ENGLAND LOCAL AUTHORITY AREAS 8 7 6 69 68 5 58 4 3 2 1 56 61 62 THERE WERE 9,545 ACTIVE ENTERPRISES IN SOUTH GLOUCESTERSHIRE IN 213 There were 9,545 enterprises which were classified as active in, and paid one or all of National Insurance Contributions, or Corporation Tax, or managed a payroll and was registered for PAYE. As Figure 4 charts below, the business population has demonstrated a strong growth trend since 24. Total active enterprises grew by 15.6 per cent between 24 and 213, slightly lower than the average for the West of (16.5 per cent), but above the average (13.6 per cent). FIGURE 4: TOTAL ACTIVE ENTERPRISES IN SOUTH GLOUCESTERSHIRE 24 TO 213 1, 9,5 Source: Business Demography 214 and Mid-year Population Estimates, Office for National Statistics. As Figure 6 shows, the majority share (88.8 per cent) of businesses in were microbusinesses employing under 1 employees. The structure of businesses by employee sizeband showed a slightly higher share of microbusinesses (employing under 1 employees) and slightly lower share of medium-sized businesses (employing 5-249 employees) compared to the national average. FIGURE 6: SHARE OF ENTERPRISES BY EMPLOYMENT SIZEBAND IN 214 Area micro small medium large -9 1-49 5-249 25+ 9, Bath & NE 88.4 9.8 1.3.5 86.8 1.9 1.9.4 8,5 North 88.9 9.6 1.2.3 88.4 9.5 1.7.4 88.8 9.4 1.4.5 8, West of 88. 1.1 1.5.4 7,5 Source: Business Counts, Office for National Statistics. Source: Business Demography 214, Office for National Statistics. Page 3

Bath and North East City of North West of Start-up rate % SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE 215 1,255 NEW BUSINESS STARTS IN 213 In 213, 1,255 new businesses registered for VAT or PAYE in. This was the highest number of start-ups since data collection began in 24. The rate of business start-ups in 213 was 13.1 per 1 active enterprises (Figure 7). While this was lower than the average of 14.4, and below the West of average of 13.7, it was the highest start up rate recorded in since records began in 24. FIGURE 7: START-UP RATE IN 213 IN WEST OF ENGLAND LOCAL AUTHORITY AREAS 16. FOREIGN-OWNED FIRMS EMPLOYED 9,2 IN 21 In 21, 65 businesses in were known to be foreign-owned. These represented.8 per cent of all businesses in the area below the average of 1.3 per cent. Foreign-owned businesses employed 2,2 people or 16.2 per cent of all employment in the area, above the national average of 14.3 per cent. KEY FACTS: BUSINESS 9,545 active enterprises in 213 Total growth of active business population between 24 and 213: 15.6 per cent ( = 13.6 per cent) 56 businesses per 1, working age residents 14. 12. 1. 8. 12.2 14.9 13.1 13.1 13.7 14.4 ( = 62) 88.8 per cent of businesses have under 1 employees ( = 88.4 per cent) 6. Rate of self-employment of 9.7 per cent ( 4. 2. = 14.2 per cent). 1,255 new start-ups (registered for VAT/PAYE) in 213 Source: Business Demography 214, Office for National Statistics. BUSINESS SURVIVAL RATES HAVE CONSISTENTLY BEEN ABOVE THE NATIONAL AVERAGE SINCE 28 Business survival rates in have been above the national average for all businesses Start-up rate in 213: 13.1 per cent ( = 14.4 per cent) One-year business survival rate in 213: 92.7 per cent ( = 91.1 per cent) Two-year business survival rate in 213: 79.1 per cent ( = 75.5 per cent) Share of businesses that are foreign-owned in 21:.8 per cent ( = 1.3 per cent) Share of total employment in foreign-owned companies in 21: 16.2 per cent ( = 14.3 per cent) born since 28, as demonstrated in Figure 8. In 213, the one-year survival rate of businesses born in 212 was 92.7 per cent for, compared to 91.1 per cent for as a whole. In the same year, the 5-year survival rate was 44.3 per cent in and 41.2 per cent nationally. FIGURE 8 SURVIVAL RATES OF BUSINESSES IN SOUTH GLOUCESTERSHIRE AND ENGLAND Age of busines Year of birth 28 29 21 211 212 SOUTH GLOUCESTERSHIRE 1 Year 95.1 93.6 9.2 93.2 92.7 2 Year 77.3 77.5 77.5 79.1-3 Year 62.1 63. 61.8 - - 4 Year 52.2 53.8 - - - 5 Year 44.3 - - - - ENGLAND 1 Year 92.1 9.9 86.8 93.1 91.1 2 Year 73.9 73.9 72.5 75.5 3 Year 57.9 59.7 57.1 - - 4 Year 48.8 48.9 - - - 5 Year 41.2 - - - - INNOVATION AND KNOWLEDGE RATES OF PATENTING PER CAPITA ARE HIGH Patent data is available for NUTS3 areas from the OECD. The most relevant measure is for the NUTS3 area of: Bath and North East, North and, which had a rate of patenting of an average of 28 patents per onemillion residents over the five years from 27 to 211, higher than the average of 93 and the West of average of 127. EMPLOYMENT IN THE KNOWLEDGE ECONOMY IS HIGH IN SOUTH GLOUCESTERSHIRE In 213, 27,99 workers in were employed in Knowledge Economy industries Page 4

Source: Business Demography 214, Office for National Statistics. Page 5

Bath and NE North West of % Bath & NE North West of % SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE 215 (using the Work Foundation definition 2 ). This was equivalent to 19.8 per cent of all employment just above the average (19.7 per cent) and slightly below the West of average (21.8 per FIGURE 11: SHARE OF ESTABLISHMENTS WITH A HIGH OR VERY HIGH PRODUCT-MARKET STRATEGY IN 213 6% cent) as demonstrated in Figure 9. Employment totalled 11,35 in High and Medium Technology Manufacturing, equivalent to 8. per cent of all employment in the area. This is significantly above the national average of 3.1 per cent, and the West of average of 3.9 per cent. 5% 4% 3% 2% 1% % 55% 5% 49% 47% 5% 45% Between 29 and 213, the number of Knowledge Economy employees in decreased by 1,7, or -5.7 per cent, while growth across averaged 6. per cent. By contrast, employment in High and Medium Technology Manufacturing rose sharply, by 2, employees, or 21.5 per cent well ahead of the average increase of 3.6 per cent. FIGURE 9: SHARE OF TOTAL EMPLOYMENT IN KNOWLEDGE ECONOMY AND HIGH- AND MEDIUM- TECHNOLOGY MANUFACTURING 3% 25% 2% 15% 1% 5% % Knowledge Economy High and Medium Technology Manufacturing Source: UK Employer Skills Survey, UK Commission for Employment and Skills. SCIENCE AND TECHNOLOGY PROFESSIONALS FORM A HIGH SHARE OF THE WORKFORCE At the time of the 211 Census, there were 13,51 residents working as science and technology professionals and associate professionals. They accounted for 9.5 per cent of all residents in work higher than both the average of 5.8 per cent and the West of average of 7.2 per cent.. Source: Business Register and Employment Survey, Office for National Statistics BUSINESSES IN SOUTH GLOUCESTERSHIRE ARE MORE LIKELY TO COMPETE ON DESIGN, QUALITY AND INNOVATION In, 47 per cent of businesses were defined as having a high or very high Product Market Strategies above the national average of 45 per cent, and below the West of average of 5 per cent. Page 6

2 See http://www.theworkfoundation.com/assets/docs/public ations /213_know_work_survey1739.pdf Page 7

FIGURE 1: BUSINESS START-UP RATES IN 213 IN DISTRICT AND UNITARY AUTHORITY AREAS IN ENGLAND AND WALES [RANKING AMONGST ALL LOCAL AUTHORITY DISTRICTS IN PARENTHESES] Start-ups per 1 active enterprises [348] 3. 1-1. [ 1 8] 1. - 1 2. [83] 16. - 18. [32] 1 2. - 1 4.4 [1 33] 14.4-1 6. [59] 18. - 28.6 [23] Source: Business Demography, Office for National Statistics. Contains National Statistics data Crown copyright and database right 215. Contains Ordnance Survey data Crown copyright and database right 215. Page 6

THE WEST OF ENGLAND LEP HAS DEFINED TEN PRIORITY SECTORS The West of LEP defined ten priority sectors in the economy, several of which are major employers in such as Tourism (26,5); Retail (2,2); and Health and Life Sciences (14,7). Others such as Advanced Engineering and Aerospace (14,5), Professional and Legal Services (1,3) and High Tech Industries (7,) are both significant in employment terms, offer high growth potential and are knowledge-based or high value added industries. Figure 12 details total employment in these priority sectors in 29 and 213. FIGURE 12: PRIORITY SECTOR EMPLOYMENT IN SOUTH GLOUCESTERSHIRE IN 29 AND 213 Priority Sector 29 213 Advanced Engineering and Aerospace change 29-213 11,9 14,5 2,6 Construction 9, 7,9-1, Creative Industries 2,1 2,3 3 Professional and Legal Services 12,9 1,3-2,6 High Tech Industries 7,4 7, -4 Low Carbon 7 1,1 4 Retail 22,5 2,2-2,3 Tourism 25,2 25,6 4 Distribution 2,5 2,5 Source: Business Register and Employment Survey, Office for National Statistics. Figure 13 lists detailed industrial classifications in which have a higher share of total employment compared to nationally. Manufacture of other transport equipment (employing 8,, 13.2 times more important for employment than national) is a very significant specialism, with high employment. Information service activities (employing 1,2, 3.5 times more important) and Insurance, reinsurance and pension funding, except compulsory social security (employing 1,5, 3.1 times more important) also stand out as having high levels of total employment and being more important in terms of employment share than nationally. KEY FACTS: INNOVATION AND KNOWLEDGE Average inventor patents per one-million residents per year between 27 and 211: 28 ( = 93) Share of employment in knowledge-based industries: 19.8 per cent ( = 19.7 per cent) Share of employment in high-and-mediumtechnology manufacturing: 8. per cent ( = 3.1 per cent) Share of workers that are science and technology professionals/associate professionals: 9.5 per cent ( = 5.8 per cent) Share of businesses that have high/very high product market strategies: 47 per cent ( = 45 per cent) Health and life sciences 14,5 14,7 2 FIGURE 13: INDUSTRY CONCENTRATIONS IN SOUTH GLOUCESTERSHIRE BY 2-DIGIT STANDARD INDUSTRIAL CLASSIFICATIONS, WITH EMPLOYMENT QUOTIENTS CALCULATED AS DIFFERENCE BETWEEN LOCAL EMPLOYMENT SHARE VERSUS NATIONAL (ENGLAND) EMPLOYMENT SHARE (SOUTH GLOUCESTERSHIRE, 213) Industry Number Employment employed Share (%) EQ 3 : Manufacture of other transport equipment 8, 5.77% 13.2 63 : Information service activities 1,2.86% 3.5 65 : Insurance, reinsurance and pension funding, except compulsory social security 1,5 1.11% 3.1 26 : Manufacture of computer, electronic and optical products 1,4.98% 2.1 77 : Rental and leasing activities 1,4 1.3% 2. 17 : Manufacture of paper and paper products 5.33% 1.9 84 : Public administration and defence; compulsory social security 12,2 8.77% 1.9 71 : Architectural and engineering activities; technical testing and analysis 4, 2.88% 1.9 41 : Construction of buildings 2,9 2.11% 1.7 72 : Scientific research and development 1,.71% 1.7 66 : Activities auxiliary to financial services and insurance activities 3,5 2.55% 1.7 81 : Services to buildings and landscape activities 5,4 3.86% 1.7 38 : Waste collection, treatment and disposal activities; materials recovery 1,.71% 1.6 8 : Security and investigation activities 1,7 1.2% 1.6 25 : Manufacture of fabricated metal products, except machinery and equipment 2,3 1.64% 1.5 53 : Postal and courier activities 1,8 1.32% 1.5 Source: Business Register and Employment Survey, Office for National Statistics. Page 7

Mar-92 Mar-94 Mar-96 Mar-98 Mar- Mar-2 Mar-4 Mar-6 Mar-8 Mar-1 Mar-12 Mar-14 Bath and NE North West of % SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE 215 POPULATION TRENDS THE POPULATION OF SOUTH GLOUCESTERSHIRE WAS 271,6 IN 214 had a population of 271,6 in 214, of whom 171,8 are of working age. Almost one-third (63.3 per cent) of s population are of working age, compared with 63.7 per cent across and 64.5 per cent for the West of. POPULATION GROWTH HAS BEEN ABOVE THE NATIONAL AVERAGE Between 2 and 214, the s population grew by 1.9 per cent (+26,8 people), above the average (9.4 per cent), and just below West of average (11.4 per cent), as detailed in Figure 14. FIGURE 14: RATE OF TOTAL POPULATION GROWTH BETWEEN 2 AND 214 18 16 14 12 1 8 6 4 2 8.8 17. 5.8 8.1 11.4 1.3 ECONOMIC PARTICIPATION AND UNEMPLOYMENT SOUTH GLOUCESTERSHIRE HAS HIGH RATES OF ECONOMIC PARTICIPATION AND A LOW RATE OF UNEMPLOYMENT Economic activity in, measured by the 84.5 per cent share of working-age people either in work or actively seeking work, is higher than the national average of 76.5 per cent. The employment rate, at 81.3 per cent is significantly above the national average (72.5 per cent). The unemployment rate, at 3.8 per cent, is below the national rate (6.4 per cent). In March 215, had a low claimant count rate of.9 per cent half the national claimant count rate of 1.9 per cent. Figure 15 shows the claimant count rate since 1992. This clearly shows a rise in the rate at the onset of the credit crunch and recession in 28 and 29 to 2.2 per cent in March 29 and then to peak at 2.4 per cent in March 212. Since 214 the rate has decreased markedly. In August 214, 5.9 per cent of working age people were claiming out-of-work benefits, significantly below than the national average of 9.6 per cent. FIGURE 15: CLAIMANT COUNT RATE IN SOUTH GLOUCESTERSHIRE MARCH 1992 TO MARCH 214 7. 6. 5. Source: Mid-year Population Estimates, Office for National Statistics. 4. 3. KEY FACTS: POPULATION AND ECONOMIC PARTICIPATION 271,6 resident population in 214 Working age residents: 63.3 per cent of total population (UK = 63.7 per cent) Population growth between 2 and 213: 1.9 per cent ( = 9.4 per cent) Economic activity rate 214: 79.5 per cent ( = 84.5 per cent) Employment rate 214: 81.3 per cent ( = 72.5 per cent) Unemployment rate 214: 3.8 per cent ( = 6.4 per cent) 2. 1.. Source: Claimant Count, Office for National Statistics. Page 8

FIGURE 16: RATE OF UNEMPLOYMENT IN UPPER TIER AUTHORITY AREAS IN ENGLAND AND WALES IN 214 [RANKING AMONGST ALL LOCAL AUTHORITY DISTRICTS IN PARENTHESES] Unemployment rate [ 174] 2.9-4. [17] 4. - 5. [26] 8. - 1. [3] 5. - 6.4 [39] 6.4-8. [ 43] 1. - 1 3.8 [ 1 7].. '... f Source: Annual population survey (Jan 214-Dec 214 ), Office for National Statistics. Contains National Statistics data Crown copyright and database right 21 5. Contains Ordnance Survey data Crown copyright and database right 21 5. Page 9

COMMUTING At the time of the 211 Census, 137,27 residents were in work. Of these, 72,478 worked (and lived) within the district (52.8 per cent of residents). had a net incommuting level of -5,83 (the difference between incommuters and out-commuters). 53,65 working residents commuted to work outside of the district, and 59,48 workers commuted in from other districts. As is mapped in Figure 16 below, there is significant commuting within the district itself. The highest number of out-commuters worked in (36,64) and Bath and North East (4,98); and the highest number of in-commuters lived in (28,9) and North (5,71). Figure 17 details the top 5 places of work for out-commuters and areas of residence for in-commuters. FIGURE 17: SOUTH GLOUCESTERSHIRE S TOP 5 OUT- COMMUTER PLACES OF WORK AND PLACES OF RESIDENCE FOR IN-COMMUTERS Top 5 places of work for out-commuters Top 5 places of residence for in-commuters 34,64 28,9 Bath & NE 4,98 N 5,71 N 2,77 Bath & NE 3,93 Stroud 1,57 Wiltshire 3,16 Wiltshire 1,56 Stroud 3,13 Source: 211 Census, Office for National Statistics. FIGURE 16: COMMUTING FLOWS IN SOUTH GLOUCESTERSHIRE: NUMBER OF COMMUTERS TRAVELLING TO AND FROM MIDDLE LAYER SUPER OUTPUT AREAS BY ALL MODES OUT-COMMUTING FLOWS IN-COMMUTING FLOWS Page 1

Bath and NE West of % Bath & NE North Bath & NE West of % Bath & NE North SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE 215 QUALIFICATIONS YOUNG PEOPLE S QUALIFICATION ATTAINMENT IN SOUTH GLOUCESTERSHIRE FIGURE 19: PERCENTAGE POINT INCREASE IN THE PERCENTAGE OF PUPILS ACHIEVING 5 A*-C GCSES, 25/6 TO 212/13 5 A*-C GCSEs 5 A*-C GCSEs incl Eng & Maths IS SIMILAR TO THE NATIONAL AVERAGE In 212/13, the percentage of pupils at the end of key stage 4 achieving at least 5 A*-C GCSEs was slightly below the average (83.1 per cent) in, at 79.9 per cent, as detailed in Figure 18. In the same year, the percentage of pupils at the end of key stage 4 achieving at least 5 A*-C GCSEs including English and Maths was 56.7 per cent in, below the national average of 6.8 per cent. FIGURE 18 GCSE ATTAINMENT RATES, 212/13 1 82.2 81.2 8 63.6 6 52.3 4 2 5 A*-C GCSEs 5 A*-C GCSEs incl Eng & Maths 77.1 79.9 83.1 58.5 56.7 % % 4 3 2 15.3 11.6 1 37.4 21.9 Source: Department for Education. 6.8 1 88. 9. 8. 8 18.7 25. 25.6 11.1 12.3 FIGURE 2: ACHIEVEMENT OF LEVEL 2 AND LEVEL 3 QUALIFICATIONS BY 19 YEAR OLDS, 213 6 4 2 6. Level 2 at 19 Level 3 at 19 47. 64. 85. 85.5 84.9 16.7 54. 55.3 56.2 Source: Department for Education. Rates of GCSE improvement in are lower than the national average, as illustrated in Figure 19. Between 25/6 and 212/13, the percentage of pupils achieving 5 A*-C GCSEs increased from 57.5 per cent to 83.1 per cent across an increase of 25.6 percentage points. The rate of increase was similar to the average in, at 25. per cent. Attainment of a Level 2 qualification improves by age 19 as detailed in Figure 2. In 213, 85. per cent of 19 year olds in had achieved a Level 2 qualification (5 A*-C GCSEs or equivalent). This was the same as the average (84.9 per cent). Attainment of a Level 3 qualification by age 19 is slightly below average. Figure 2 further shows that in 213, 54. per cent of 19 year olds had achieved a Level 3 qualification (A level and equivalent) - compared to the average of 56.2 per cent. Source: Department for Education. North North Of the young people reaching the age of 18 in between 25 and 29, 31.1 per cent entered higher education (HE). This was lower than the average of 34.2 per cent and similar to the West of average of 31.2 per cent. For HE participation, ranked 22 nd out of 326 local authority districts. FIGURE 21: PARTICIPATION IN HIGHER EDUCATION FOR 18 YEAR OLDS, 25-29 45 4 35 39.2 3 25 2 15 1 5 25.2 35.9 31.1 31.2 34.2 Page 11

Source: Higher Education Funding Council for. Page 12

FIGURE 22: SHARE OF WORKING AGE RESIDENTS QUALIFIED TO LEVEL 4 (DEGREE EQUIVALENT) OR ABOVE IN 214 BY UNITARY AUTHORITY AREA IN ENGLAND AND WALES [RANKING AMONGST ALL LOCAL AUTHORITY DISTRICTS IN PARENTHESES] % of residents [ 1 7 4] 23.7-28 [18] 28-34 [41] 34-4.4 [51] 4.4-49 [28] 49-58 [2] 58-77.4 [13] Whitespace indicates no data Source: Annual Population Survey (Jan 214-Dec 214), Office for National Statistics. Contains National Statistics data Crown copyright and database right 21 5. Contains Ordnance Survey data Crown copyright and database right 21 5. Page 12

Bath & NE North West of % SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE 215 As Figure 23 shows, in, 36.7 per cent of working-age residents were qualified to NVQ4+ (degree level or above), slightly above the national average of 35.7 per cent and below the West of average of 41.2 per cent. There were higher shares of the working age population with a qualification at NVQ2 or higher (5 GCSEs at grades A*- C or equivalent). There was a low share (4.8 per cent) of working age residents with no qualifications at almost half the national rate of 8.6 per cent. FIGURE 23: SHARE OF WORKING-AGE RESIDENTS BY HIGHEST LEVEL OF QUALIFICATION HELD IN 214 Area NVQ4+ NVQ2+ No quals Bath & NE 43.9 83.8 4.3 45.6 74.7 7. North 34. 8.9 4.5 36.7 77.7 4.8 West of 41.2 78. 5.6 ENGLAND 35.7 73.2 8.6 Source: Annual Population Survey Jan 214 to Dec 214, Office for National Statistics. SKILL LEVELS OF JOBS SOUTH GLOUCESTERSHIRE HAS AN AVERAGE PERCENTAGE OF RESIDENTS WORKING IN THE MOST HIGHLY SKILLED OCCUPATIONS In 214, just under one-third of employed residents in (31. per cent) worked in Level 4 occupations 3 the most highly skilled jobs, including managers and senior officials and professionals. This was similar to the average for (3.3 per cent) as indicated in Figure 24. KEY FACTS: QUALIFICATIONS, SKILLS AND EARNINGS Share of working age population qualified to degree-level or above (NVQ4+) in 214: 36.7 per cent ( = 35.7 per cent) Share of working age population qualified to at least 5 GCSEs at grades A*-C or equivalent (NVQ2+) in 214: 77.7 per cent ( = 73.2 per cent) Share of pupils gaining at least 5 GCSEs grades A*C in 212/213: 79.9 per cent ( = 83.1 per cent) Share of pupils gaining at least 5 GCSEs grades A*C including English and Maths in 212/213: 56.7 per cent ( = 6.8 per cent) Share of 19-year-olds achieving a Level 3 attainment in 212/13: 54. per cent ( = 56.2 per cent) Share of 18-year-olds participating in higher education 25 to 29: 31.1 per cent ( = 34.2 per cent) Share of workplace jobs in level 4 (the most highly skilled) occupations: 31. per cent ( = 3.3 per cent) Average annual salary for residents in full-time employment: 28,859 ( = 27,5) Average annual salary (workplace-based) for workers in full-time employment: 28,498 ( = 27,487) Growth in earnings (workplace-based) for full-time workers between 22 and 214: 23.2 per cent ( = 32.7 per cent) FIGURE 24: SHARE OF EMPLOYED RESIDENTS WORKING IN LEVEL 4 OCCUPATIONS IN 24 4 35 3 25 2 15 1 5 35.3 37.1 29.3 31. 33.8 3.3 Source: Annual Population Survey Jan 214 to Dec 214, Office for National Statistics. 3 Level 4 occupations: managers & senior officials and professionals; Level 3 occupations: associate professional & technical occupations and skilled trades; Level 2 occupations: administrative & secretarial, caring, leisure & other services, sales and customer service, and process, plant & machine operatives; Level 1 occupations: elementary occupations Page 13

Bath & NE North West of 1997 1998 1999 2 21 22 23 24 25 26 27 28 29 21 211 212 No. sales SOUTH GLOUCESTERSHIRE ECONOMIC PROFILE 215 EARNINGS In 214, the average earnings of residents working full-time totalled 28,859 (i.e. residence-based earnings) above the average of 27,5. People working full-time in earned 28,498 on average (i.e. workplace-based earnings), below the average ( 27,487). Workplace-based earnings in grew below the national rate between 22 and 214 a rise of 23.2 per cent, compared with 32.7 per cent across rising more slowly than residence-based earnings, which grew by 4.2 per cent in over the same period. FIGURE 25: RESIDENCE AND WORKPLACE-BASED FULL-TIME AVERAGE EARNINGS, 214 residence workplace FIGURE 26: TOTAL NUMBER OF HOUSING SALES IN SOUTH GLOUCESTERSHIRE BETWEEN 1997 AND 212 8, 7, 6, 5, 4, 3, 2, 1, Source: Department for Communities and Local Government. HOUSING AFFORDABILITY HAS DECLINED RAPIDLY OVER THE PAST 15 YEARS 3, 28, 26, 24, 22, 2, In 213, average house prices in were 7. times average earnings a significant increase from 3.3 in 1997. However, house price to earnings ratios in 213 remained below their pre-recession 27 peak of 7.2. THERE HAS BEEN STRONG GROWTH IN THE DWELLING STOCK Source: Annual Survey of Hours and Earnings, Office for National Statistics. HOUSING HOUSE PRICES ARE JUST BELOW THE NATIONAL AVERAGE, AND HAVE GROWN SIGNIFICANTLY OVER THE PAST 15 YEARS In 212, the average (median) house price across was 183,5. House prices were just above the national average in, at 185,. Between 1997 and 212, average house price growth was 28 per cent in compared to growth of 26 per cent nationally. In 214, there were 112,83 dwellings in. Between 24 and 214, the number of homes in the area grew by 8,82, or 8.5 per cent, above the rate of growth of 7.8 per cent. KEY FACTS: HOUSING 112,83 dwellings in 214 Growth in dwelling stock between 24 and 214: 8.5 per cent ( = 7.8 per cent) Average house prices in 212: 185, ( = 183,5) Growth in house prices between 1997 and 212: +28 per cent ( = +26 per cent) Average house price as a multiple of median income in 212: 7. ( = 6.7) Average house prices in peaked in 27 and fell for the next two years. By 21, prices in had returned to 27 levels. Housing sales across the area are also well below their long-term average, as indicated in Figure 26. Sales have fallen in, averaging 3,242 per year between 28 and 212 47 per cent below 1997-27 annual average sales. Lower quartile house prices have grown faster than the national average. Over the past 15 years, lower quartile house price growth was 212 per cent in above the national average growth rate of 184 per cent. Page 14

FIGURE 27: AVERAGE ANNUAL WORKPLACE EARNINGS FOR FULL-TIME EMPLOYEES IN 214 BY UPPER TIER AUTHORITY AREA IN ENGLAND AND WALES [RANKING AMONGST ALL LOCAL AUTHORITY DISTRICTS IN PARENTHESES] Annual pay [174] 19,5-21, [SJ 21, - 24,5 [ 4 7] 24,5-27,5 [69] 27,5-32, [35] 32, - 55, [17] Source: annual survey of hours and earnings - workplace analysis 214, Office for National Statistics. Contains National Statistics data Crown copyright and database right 21 5. Contains Ordnance Survey data Crown copyright and database right 21 5. Page 15

PROPERTY AND INFRASTRUCTURE There were 541, square metres of retail floor space eligible for business rates in in 212; 471, square metres of office floor space; and 1,456, square metres of industrial floor space. Rateable floor space increased by 15.1 per cent for retail uses, and decreased by 8.7 per cent and 5.8 per cent for Offices and Industrial uses respectively, between 22 and 212. Rateable values were 214 per square metre for retail in 212 (below the average of 15); 152 for offices (below the average of 155); and 43 for industrial (above the average of 37). SOUTH GLOUCESTERSHIRE BROADBAND SPEEDS TEND TO BE SLOWER THAN AVERAGE ranked 44 out of 2 local areas for Average sync speeds in 213, as detailed in Figure 28. 8.5 per cent of households did not receive broadband speeds at 2 Mbit/s or higher ranking 6 out of 2 in performance. Superfast broadband availability was high at 81.8 per cent of households, ranking 92 out of 2. FIGURE 28: BROADBAND SPEEDS IN 213 Average sync speed (Mbit/s) Local Authority Value Rank out of 2 areas (1= highest, best performing) Percentage not receiving 2Mbit/s Value Rank out of 2 areas (1= highest, best performing) Superfast broadband availability Value Rank out of 2 areas (1= highest, best performing) Take-up (including superfast broadband) Value Rank out of 2 areas (1= highest, best performing) Bath and NE 16.1 118 9.5% 81 69.2% 128 79.9% 17 City of 24.5 4 3.4% 2 93.6% 38 78.7% 22 North 13.2 148 9.% 71 64.% 142 8.6% 11 2.6 44 8.5% 6 81.8% 92 81.1% 8 Source: OFCOM. Page 16

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