Manchester is witnessing a huge jobs boom and is set to outperform the likes of Tokyo, Berlin and Paris over the next five years, according to experts at Oxford Economics.
A recent report named “Beyond the City” predicts a 3.8% increase in job growth in Manchester in 2015-2020, outperforming some of the world’s capital cities.
The employment hotspot of the UK
Experts at Oxford Economics have said that Manchester has performed extremely well over the last five years in terms of its job market and it doesn’t look set to stop.
Since 2010, the city has witnessed a growth of employment in 68,154 – making it the seventh best employment hotspot in Britain and providing fantastic news for graduates.
Economists believe the driver of this huge growth has been the professional services industry – 7,800 new jobs are expected to become available in the city by 2020. This will make Manchester one of the top ten fastest growing cities for jobs in finance, law, management consultancy and advertising outside of London.
Researchers also found that the northern city had created a vast number of professional and graduate jobs in a range of sectors between 2010 and 2015, including:
- Professional services – 14,000
- Manufacturing – 3,218
- Energy and environment – 928
Meanwhile, Salford saw a 53% increase in the number of digital and creative roles available, driving an increase in disposable income in the area by 11.7%.
The engine of growth
Sir Richard Leese, Leader of Manchester Council, said that Manchester is an assured and international city which has become strengthened by partnerships made between public and private sectors, creating an “engine of growth”.
He added that more people are being attracted to the city and that the population is growing simultaneously alongside economic growth.
Iwan Griffiths, North West Chairman at PricewaterhouseCoopers (PwC), said that given the North West has the largest financial services sector outside of London, it is of no surprise that jobs are booming in the area.
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