Dorset and the economic recession

Dorset Strategic Partnership Board

3 February 2009

Unemployment, December 2006-December 2008

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

Dec

-06

Jan-

07

Feb

-07

Mar

-07

Apr

-07

May

-07

Jun-

07

Jul-0

7

Aug

-07

Sep

-07

Oct

-07

Nov

-07

Dec

-07

Jan-

08

Feb

-08

Mar

-08

Apr

-08

May

-08

Jun-

08

Jul-0

8

Aug

-08

Sep

-08

Oct

-08

Nov

-08

Dec

-08

% o

f re

sid

ent

wo

rkin

g a

ge

po

pu

lati

on

Great Britain

South West region

Bournemouth

DCC Dorset

Poole

Unemployment, 1992-2008

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

%o

f re

sid

ent

wo

rkin

g a

ge

po

pu

lati

on

Great Britain

South West region

Bournemouth

DCC Dorset

Poole

• Increasing deterioration for rural business and communities

• Bad news far outweighs the good.

• Rural businesses more reliant on finances secured on mortgage lending, overdrafts and credit card borrowing.

• Impact of retail closures in market towns – good for independents or urban centres?

SW Regional Economic Task Group

• Concern with construction sector

• Loss of European migrants

• Concern at long-term loss of skills and capacity

• Loss of apprentices

• Up-skill the indigenous workforce in preparation for up-turn

Regional Economic Council

• Chaired by Peter Mandelson and Alistair Darling.

• Mary Boughton, represents the Federation of Small Businesses.

Local response….

• Business Link…advice, workshops• Dorset Business…workshops• Local authorities…joint sign posting,

supportive approach• Encourage local procurement • Multi-agency approach…CAB et al• Area Action Workforce• DEP…SME week 6-14 May 2009