Charnwood Business  - Workforce

Workforce Summary

The area has higher skills at all NVQ levels than rest of County and region. It now has a net outflow of nearly 25000 skilled people who are available for more local jobs. Charnwood is the largest exporter of skilled labour in the whole region. At present, less than 10% of Loughborough University graduates are retained in the area. We have large numbers of highly skilled people available if you have the jobs!

Costs of running a business are considerably lower than many other parts of the country, especially London and the South / South East of England

Nature and structure of the labour force, demographics

The population of Charnwood (2007) is 165000, with an economically active population of 96,400 (85%). ONS forecasts that the population will rise to 204000 by 2026. However, at present, there are only 72000 jobs in the area. This means that nearly 25000 people with above average skills are currently travelling out of the area to work. The area has higher than average (regional and national) numbers of people qualified to NVQ levels 3 and 4. Charnwood therefore has the skilled workforce and infrastructure to deliver major economic expansion. 

Education and Qualification

Over 51% of Charnwood`s workforce is qualified to NVQ levels 3 and above. It has a very strong further education offering, and Loughborough University is the Sunday Times University of the Year. Six universities are within half an hour`s travel and all are keen to have strong links with business.

Availability

Nearly 4 million people live within one hour`s commuting distance of Charnwood; the catchment includes the cities (and counties) of Leicester, Nottingham and Derby, plus parts of the West Midlands. There are nearly 1.25 million people who are economically active within 45 minutes` driving time of Loughborough. This is more than double the number that some major cities can achieve (e.g. Bristol has 600,000 within one hour). 

Labour Costs

For male full-time workers, pay rates are higher than national and regional averages but they are lower for females. Hourly rates are below the national average. This may reflect the types of jobs currently available in the area.

Training and Recruitment Initiatives

Training schemes such as Train to Gain, are available through local FE providers. Help with recruitment is available to inward investors, through both Job Centre Plus and specialist local recruitment agencies.