News: Rebalancing the Rotherham economy
A report from the Chief Economist Unit at Yorkshire Forward indicates that the private sector could offset the contraction in the public sector in Rotherham.
The "Rebalancing the Yorkshire and Humber Economy - challenges and opportunities" report uses a variety of sources, tools, models and surveys to assess how the recent economic downturn and subsequent curbs on public spending will affect the region and the opportunities which could be exploited to boost growth.
The reports' headline figure is the estimated 53,000 jobs that will be lost in the region over the next five years as a direct result of the cuts.
Projections show that there could be big job losses in Sheffield, Hull and Barnsley with reductions across all districts within South Yorkshire. In net terms, when forecast private sector jobs growth is taken into account, the region is still projected to lose 5,000 jobs over the next five years.
The report finds that, overall, the private sector in areas like Rotherham and Leeds is expected to create enough jobs to more than offset the contraction in the public sector but areas like Leeds seem better placed to take advantage of any opportunities that lie ahead.
The report also predicts that the strong manufacturing base in the region will continue to grow, but that it can do so without creating large job numbers.
Yorkshire Futures website
The "Rebalancing the Yorkshire and Humber Economy - challenges and opportunities" report uses a variety of sources, tools, models and surveys to assess how the recent economic downturn and subsequent curbs on public spending will affect the region and the opportunities which could be exploited to boost growth.
The reports' headline figure is the estimated 53,000 jobs that will be lost in the region over the next five years as a direct result of the cuts.
Projections show that there could be big job losses in Sheffield, Hull and Barnsley with reductions across all districts within South Yorkshire. In net terms, when forecast private sector jobs growth is taken into account, the region is still projected to lose 5,000 jobs over the next five years.
The report finds that, overall, the private sector in areas like Rotherham and Leeds is expected to create enough jobs to more than offset the contraction in the public sector but areas like Leeds seem better placed to take advantage of any opportunities that lie ahead.
The report also predicts that the strong manufacturing base in the region will continue to grow, but that it can do so without creating large job numbers.
Yorkshire Futures website
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