Employment growth in Norwich slowing despite strong economic gains, report finds
PUBLISHED: 14:17 03 January 2018 | UPDATED: 15:25 03 January 2018
ARCHANT EASTERN DAILY PRESS (01603) 772434
New figures suggest strong economic performance in Norwich has not stopped a slowdown in employment growth in recent months.
Despite growth in gross value added (GVA) in the third quarter of 2017 employment rate growth in the city was down 0.5% compared with the previous period, according to the latest UK Powerhouse report.
Solicitors Irwin Mitchell and the Centre for Economics and Business Research (Cebr), which compiled the study on estimated GVA growth and job creation, said the fall could be due to a reduction in economic migrants and firms being unwilling to take on new staff amid uncertainty over future UK trading arrangements.
The report showed Norwich was ranked seventh out of 45 cities for GVA growth after seeing a 1.8% year-on-year rise, with total GVA at £2.85m.
Ipswich was fifth with a GVA growth rate of 1.9% – maintaining its position as one of the fastest growing city economies in the UK.