Yorkshire races ahead of other UK regions for employment growth
Yorkshire is already known as a prime location for business investment and expansion and news has been released that the county saw the quickest rise in employment in the UK in June, according to the latest Lloyds Bank Regional PMI report.
Yorkshire also had the second-fastest expansion in business activity in the UK in the same month, with output rising for the eleventh month running.
Optimism is particularly high in Leeds City Region’s business community and for good reason. The city combines great access to regional and national markets, great quality and excellent value for money office space. The city is growing and property investors are encouraged enough to look outside of the city centre at the areas which have been attracting commuters who have been priced out of the city centre.
The scale and diversity of the Leeds economy is key to its success. It centers on financial, legal and professional business services, a vibrant visitor and leisure economy, plus expertise in healthcare technologies and high value manufacturing.
Leeds City Region is home to the UK headquarters of a number of international businesses such as: Asda Walmart - supermarket chain; Capita - a FTSE 100 listed company concerned with business process outsourcing; CYBG plc - Major UK banking group; GHD - global HQ for hair fashion company; Jet2.com - a low cost airline; and Sky Betting & Gaming - betting and gaming company has headquarters in Leeds city centre.
As the home of these many international businesses, the region manages to keep a fairly good student retention rate after university, but students at Leeds Trinity University, the standout institution, are more likely to stay in the region after graduating, with 78.7% being employed in the Yorkshire and Humber region.
Leeds sits at the heart of a wider city region with an economy worth over £62.5 billion per annum and the city’s economy has grown almost 40% over the last decade. Since 2011, employment has risen by 11,000 and Leeds now has the highest ratio of private to public sector jobs of all major cities outside London. With this growth in the city, property investors are assured of the return on their buy-to-let investments and are now looking just outside of the city centre for apartments which appeal to tenants because of slightly lower rents than the city centre but that can still take advantage of the city's good public transport network.