About the Economy
Most employment is in the private sector (86%). Job creation forecast are estimated to be around 600 jobs per year up to 2029 Several large regeneration and redevelopment projects underway including 8000 new homes being built in the next 30 years.
About the Labour Market
Employment stable over the past 10 years and is high - 82.1% employment rate. Low unemployment (3.7%) is starting to create skills shortages particularly in lower skilled jobs. Skills shortage in highly qualified jobs particularly in STEM sectors. Working age population is highly qualified with 39.5% having a degree level qualification or above. Only 3.2% have no qualifications at all.
About the Digital Economy
Basingstoke itself is home to 341 digital businesses and has a security and telecommunications specialism. Key players include GAME Digital, Hammer and Cyntergy. More generally the UK is one of the world’s leading digital economies with digital technology businesses contributing over £105bn in GVA in 2011 (latest figures available) and accounting for 15% of all new companies formed in 2013/14. The ten largest digital clusters in the UK are either in the Enterprise M3 area (in which Basingstoke is located) or in close proximity to it. The Enterprise M3 economy ranks as one of the UK’s leading digital economies. It is home to 8,500 digital businesses, employing 50,270 individuals and accounting for 7.4% of all Enterprise M3 employment. Basingstoke has the highest concentration of digital businesses compared to overall businesses in the whole of the UK (location quotient).