Calderdale economy outshines regional averages

Calderdale’s economy is making major developments in the right direction, with key indicators showing strong progress compared compared to regional and national averages, according to data from the Office of National Statistics (ONS).

The report to Calderdale Council’s Economy and Investment Panel looked at key trends in the borough’s economy, covering areas such as unemployment, skills and business.

The results revealed:

• Calderdale’s employment rate has increased by 7.5% since 2010 to 75.7%, which is above the regional and national averages.
• Unemployment continues to fall and is currently 5.9%, which is significantly lower than the Yorkshire and Humber average.
• At 9.5%, Calderdale has a lower proportion of residents with no qualifications than the regional average, and is in line with the national figure.
• 33% of working age people have degree level qualifications – an increase of more than 6% over the past 10 years, and a higher proportion than other nearby areas.
• The annual earnings of people working in Calderdale have increased by 48% in the past 15 years to an average of £24,905, and are above Yorkshire and Humber levels. This showcases that more highly-paid jobs are being created, meaning businesses are investing and becoming more competitive. They are entering the international markets, which requires more qualified employees.

Cllr Barry Collins, Cabinet Member for Regeneration and Economic Development, said: “Calderdale is making excellent economic progress, with employment and skill levels at an all-time high. The Council has been working hard to support and invest in local businesses to ensure a strong economy since the recession hit. This has turned into a real success. But we are not complacent. We’re constantly looking at what we can do, alongside others, to help improve prospects for residents and businesses.”

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