The Centre for Cities, the organisation that provides research into city economies, has conducted a new survey which finds that Cambridge is particularly likely to emerge strongly from the current recession.
The report, Cities Outlook 2010, says that Cambridge has ‘the right ingredients to succeed after the recession has passed’ and cites the city’s strong private sector, high levels of entrepreneurship, highly educated workforce and large share of knowledge-intensive jobs as being crucial to its success.
Cities Outlook 2010 ranked Cambridge top in a list of 63 UK cities for number of residents with degree-level qualifications (51.8%) as well as top for concentration of knowledge-intensive jobs held by residents (35.2%). Cambridge was also found to have the lowest Job Seeker's Allowance claimant rate (2.1%) and although this had increased as the recession took hold, the rise between February 2008 and November 2009 was less than 1%. This was the lowest rise seen by any city covered by the survey.
Norwich also comes out strongly in the report. Like Cambridge, it is growing quickly in population terms, and it too has a high proportion of residents (23.4%) employed in knowledge-intensive businesses. It has also had one of the lowest rises in those claiming Job Seeker's Allowance.
The Centre for Cities is an independent, non-partisan research and policy institute. Committed to helping Britain's cities improve their economic performance, the Centre produces practical research and policy advice for city leaders, Whitehall and employers.
Source: The Centre for Cities
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