Exeter Set To Have Fastest Job Growth In Next 10 Years

Locations in the South of England are set to have the fastest-growing economies in the next 10 years, according to a new league table published today.

The UK Powerhouse study is produced by Irwin Mitchell and the Centre for Economics and Business Research (Cebr) and provides an estimate of GVA growth and job creation within 46 of the UK’s largest cities at least 12 months ahead of the Government’s official figures.

In a blow to on-going plans to boost prosperity in the North and the Midlands, the economies in Milton Keynes, Cambridge and Reading are expected to grow the fastest by the end of 2028.

There was slightly better news for the so-called ‘Northern Powerhouse’ and ‘Midlands Engine’ in terms of jobs with Leeds, Stoke, Birmingham and Liverpool all appearing in the top 10 for year-on-year employment growth by Q4 2028.

Commenting on Exeter’s fast-growing employment growth rate at the end of 2028. Victoria Brackett, CEO of Irwin Mitchell’s Business Legal Services division said: 

Expert Opinion

“Our latest report offers very positive news for Exeter. Over £500m was injected into the area between 2011 and 2016 and this has undoubtedly been a factor in improving the city’s prospects. Looking forward, the city should focus on the current low levels of progression into higher education, which is surprising given the presence of a world-renowned university in the city.” Victoria Brackett - Group Chief Commercial Officer

Josie Dent, Economist at Cebr said: “The booming economies of Milton Keynes, Oxford and Cambridge continue to dominate in terms of economic growth. However, for job creation rates it is Leeds and Exeter which are set to rank highest by 2028. In particular, significant regeneration plans in Leeds city centre will stimulate employment growth and improve connectivity, making commuting easier.”