Economy outcome measures

Corporate Plan 2019 -2023

State of the Borough outcome measures

Our Economy

A strong and inclusive economy with continued growth

Contains public sector information licenced under the Open Government Licence v3.0

Gross Value Added (GVA B) £3.05bn

The borough contributes £3,054 million to the country’s economy. Since 2013 local GVA has seen an increase of circa 4.4% annually this compares favourably to regional and English growth at 3.8% and 4.0% respectively.

Gross Value Added (GVA B) per head £20,525

The GVA per head figure for the borough is higher than other Lancashire NUTS3 areas.

Gross Value Added (GVA B) per head per hour worked £26.80

The borough has the second lowest GVA(B) per hour worked in the wider Lancashire area. This compares to £31.20 in Lancashire NUYS2 area and £31.00 in the North West.

Economic activity 70.9%

70.9% of working age residents are economically active compared to 76.9% in the North West and 78.9% in England.

Male economic inactivity 21.7%

The proportion of males who area economically inactive is higher compared to levels both in the North West and England, and the same reality is true for economically inactive males who want a job.

Female economic inactivity 36.7%

The proportion of females who are economically inactive is considerably higher compared to levels in both the North West and England. The area also has a larger proportion of economically inactive females who do not want a job compared to regional and national averages.

Employment rate 67.3%

The borough’s employment rate continues to fall below regional (73.8%) and national (75.6%) averages, but the gap has narrowed in recent years.

Number of local enterprises 4,960

BwD contributes 9.5% of all enterprises based within Lancashire. Since 2016 the borough’s enterprise base has grown circa 5% annually. This level of annual growth outperforms regional and national averages.

Employee jobs 67,700

The number of jobs the local economy supports has been steadily increasing since 2015. BwD contributes circa 11% of all jobs round within Lancashire.

Business births 870

The borough has seen a growing increase in the number of enterprises being born since 2015

Business deaths 555

The borough maintains a stable level of business deaths circa 550 annually.

Resident full time annual earnings £23,371

The borough has one of the lowest level of residents earnings in Lancashire, with only Hyndburn and Blackpool seeing lower levels. Similarly the borough sits below regional (£27,492) and national earning averages (£29,869)

Workplace full time annual earnings £24,162

The borough has consistently seen a higher level of workplace earnings compared to its residents, suggesting that the area sees large levels of economic commuting. Traditionally workplace wages are circa 33% higher than residents, but recently this gap has widened.

Our Economy

  • Gross Value Added (b) - Office for National Statistics - Nominal regional gross value added (balanced) per head and income components: 2018
  • Gross Value Added per head - Office for National Statistics - Nominal regional gross value added (balanced) per head and income components: 2018
  • Economic activity (16 - 64) - Nomis - Annual Population Survey: April - March 19
  • Employment rate - Nomis - Annual Population Survey: April - March 19Male economic inactivity - Nomis - Annual Population Survey: April - March 19
  • Female economic inactivity- Nomis - Annual Population Survey: April - March 19
  • Employee jobs - Nomis - Business Register and Employment Survey (Open Access): 2018
  • Gross Value Added per head per hour worked - Office for National Statistics - Nominal regional gross value added (balanced) per head and income components: 2018
  • Number of local enterprises - Nomis - UK Busines Counts: 2018
  • Business births - Office for National Statistics - Business Demography UK: 2017
  • Business deaths - Office for National Statistics - Business Demography UK: 2017
  • Resident full time earnings - Nomis - Annual Survey of Hours and Earnings: 2018
  • Workplace full time annual earnings - Nomis - Annual Survey of Hours and Earnings: 2018
  • Workplace full time annual earnings - Nomis - Annual Survey of Hours and Earnings: 2018