Skip to main content

News

Search:
Filter by month:
15/03/2019
Black Country economy sees significant productivity increase

  • GVA per hour worked increases by 4.3% in 2017 – nearly double the national average and the highest in the West Midlands region
  • Black Country experiences higher growth in GVA per filled job than the national average


Across the West Midlands, the Black Country has reported the highest growth rate in GVA (Gross Value Added) per hour worked with an increase of £26.5 in 2016 to £27.6 in 2017, an increase of 4.3% which nearly double the national average of 2.5%.

GVA per job filled also shows a positive story for the Black Country, experiencing a higher growth rate at 2.8% than the UK average of 2.5% and the highest within the West Midlands Combined Authority.


Stewart Towe, Chair of the Board, Black Country LEP said:

“This is fantastic news for the Black Country economy and we are delighted that alongside our partners across the West Midlands area we are consistently seeing an increase in productivity which is above the national average.

As our economy grows we will continue to create the conditions for businesses and people to thrive across the Black Country.”


Labour productivity is one of the most widely used measures of economic performance of a nation or an area. GVA per hour worked divides GVA by the total hours worked by the workforce in the area. GVA per filled job allocates GVA to the number of jobs in the area.


Find out more about the Black Country economy visit www.blackcountrylep.co.uk/about-us/black-country-economic-intelligence-unit/

Latest News

Go to news page
High streets to benefit from £62 million heritage boost
24/05/2019
New funding will bring old buildings back into use and turn them into offices, housing and creative spaces.
New £2 million local fund announced at West Midlands’ first Cycling Summit
23/05/2019
A £2 million fund has been launched to help communities make their streets safer and encourage more cycling and walking.
Pitchfest 2019 Now Open: Refer a Business!
23/05/2019
Boost your business’ profile and increase your chances of winning investment through Pitchfest 2019.

Sign up to receive updates: