State of the economy

Hampshire's figures - summary

Detailed statistical information on the social, economic and environmental aspects of Hampshire is available in a single downloadable publication; A Profile of Hampshire . For another detailed source of local information, please search under Research and Intelligence on the Hampshire Economic Partnership website ,

Other Useful Sites:

SEEDA

, SEE-IN, Office of National Statistics (ONS), NOMIS, Neighbourhood Statistics, SEERA, GOSE, Local Government Association, Department of Communities and Local Government, HM Treasury, Department for Business, Enterprise and Regulatory Reform (BERR), Department for Work and Pensions (DWP), Jobcentre Plus, Learning & Skills Council, Eurostat, The Audit Commission, Joseph Rowntree Foundation

The following information is drawn from a variety of sources which are acknowledged under each topic.

General Statistics

ONS, The Audit Commission, Valuation Office Agency, Local knowledge, Gavurin


Summary of Hampshire Economic Outlook

Employment by broad sector

Employment in Hampshire is primarily concentrated  in the service type of activities with distribution, hotels & restaurants, transport & communications, finance IT, public administration and education and health toping the list. There was a steady growth of business registrations from around 35, 630 businesses stock in 1997 to 46,630 at end of 2006 with a slight downward variation between 2006 and 2007. The growth in VAT registrations indicates that Hampshire overall has a good business environment for business start-ups and growth. Most of the VAT registrations 73% in 2006 (LK, 2007) are in the urban locations. The bulk of businesses in Hampshire and the Isle of Wight  comprises of those with turn over of between £50,000 to £249,000 or SMEs – employing  nearly 50%. Large companies employ nearly 30% leaving the rest to be taken up by micro or small businesses.

Gross Value Added (GVA) and GVA per head

Hampshire (including Portsmouth and Southampton) has seen a steady growth in gross value added (GVA). Headline GVA figures stood at £32.3 billion in 2005 from £17.8 billion in 1995. The sub-region witnessed a 32.4 % GVA change between year 2000 and 2005. GVA per head figures also grew significantly over the same period and stood at £17,775 for Hampshire (including Portsmouth and Southampton) and the Isle of Wight and £17,811 for the Hampshire County area in 2005 from £10,332 and £10,171 in 1995 respectively.

Hampshire has a relatively high percentage of firms in advanced manufacturing (aerospace, marine and pharmaceuticals). However, there is a lower than average presence of knowledge-based industries (telecommunications, finance and insurance).

Population

The Office of National Statistics’ midyear population estimates (2006) show that the population of Hampshire (Without Southampton and Portsmouth) stood at 1,265,900 at the end of 2006. This figure followed growth of approximately 87,200 from 1,178,700 in 1991. Demographics across Hampshire over the next 7 years show the following forecasted facts and figures:

  • • The population is likely to grow by almost 60,000 people to 1,745,100 by 2013.

  • • Dwellings are likely to increase by 54,000 to 777,800 by 2013.

  • • The population of Hampshire is forecast to age during the period with more older people and fewer children.

  • • The working age population will decline.

  • • The total dependency ratio (total of non-working age people to working age people) is expected to rise, largely as a result of the ageing of the population

Source: A demographic profile of Hampshire 2006 – 2013 (http://www3.hants.gov.uk/demographic-future-august-2007.pdf)

Skills and Qualifications

Hampshire has a high proportion of people with NVQ 4 and above compared with the South East Region and National averages, with Winchester City and district registering the highest. This figure has seen a rise from 180,000 in year 2000 to 237,500 in January 2006 (Office of National Statistics, 2007).

House prices and affordability

Soaring house prices over the last ten years indicate that demand for housing is not meeting supply in most areas of the country.  The South East region in particular has experienced exceptionally high house prices (though with pockets of local variations), mostly due to its competitive economy and the proximity to London. The most expensive house prices are found in Winchester and East Hampshire. Both of these districts have quite high levels of commuting to London and are also located in the largely rural central part of Hampshire, taking in part of the proposed South Downs National Park.  

Index Of Multiple Deprivation

Overall, the Hampshire County Council area is a prosperous part of England and the South East with high employment levels and a thriving economy. Therefore at larger geographies (county and district level) the Hampshire County Council area ranks among the least deprived areas in England . However, at spatial level pockets of small areas tend to rank poorly across all domains.

Economic Activity/Inactivity Rates

Hampshire has a very low percentage of people who are unemployed. The number of people aged 16 and above who are categorised as unemployed for Hampshire County stood at 7,915 or 1 % at (March 2008).

Earnings

Earnings for Hampshire (excluding Portsmouth and Southampton)  by both residence and workplace are slightly lower than those of the SE averages but are above the national averages for both males and females



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