Top Growth Industries in Manchester
So we’ve talked about what LMI is and why it’s important to know. We’ve also looked at some of the things that can the affect the Labour Market.
Now let’s take a look at some of the Top Growth Industries in Greater Manchester to see how they’ve expected to continue to grow.
Business Finance and Professional Services
One of the largest sectors in Greater Manchester currently employing around 192,693 people. In the years up to 2025, it is predicted that a further 3,063 jobs will be produced, with an additional number of replacement demand vacancies from the retiring workforce. GM plans to build on current strengths in legal and accounting, insurance and business services.
Although this sector has shrunk significantly since 2005, in the years up to 2025, it is predicted that 1,232 new jobs will be created, and a further 1,892 jobs per year will need filling due to replacement demand from its aging workforce. Skills in advanced manufacturing, science and engineering will be crucial to employers with 25% of its workforce needing to be qualified at Level 4 and above.
Health and Care
GM is looking to build on key strengths in life sciences, medical technology/devices and its health services. The sector currently employs around 174,111 people and this is expected to increase by 3,824 by 2025. Primary Care services are looking to innovate by incorporating more allied health professionals from secondary care to combat the current shortage on GP’s.
Creative & Digital
GM is again looking to build on key strengths in this sector such as ecommerce, cyber security, media and data analytics. This sector is vast and includes Animation, Publishing, Visual Effects, Photo Imaging, Advertising & Marketing, Television and Gaming. The sector currently employs around 64,477 people and is expected to increase by a further 5,047 by 2025.
So as you can see there are certainly some big growth areas in GM, but these are not the only ones. GM has recognised that there are other industries, which are important to the local economy. Read my next blog where we’ll look at the other key industries the Greater Manchester Strategy is focusing on.
"Our People Our Place” – The Greater Manchester Strategy; EMSI Analyst; and Bridge GM