1. BITC - Educating the Educators Oxford’s Economic Landscape and Labour Market Matt Peachey Economic Development Manager 13.07.16

2. Key points to cover Oxford and Oxfordshire Economy What might this mean for those seeking a career in Oxford? –now? –In future? How can we help our students make good choices? Key messages

3. Oxford: Innovation drives growth

4. Oxford - a fast growing city o Sixth fastest employment growth o Second fastest private sector job growth – 17.8% o Concentration of knowledge intensive business – 67% o Job density of 1.16 compared to 0.85 SE Source: Centre for Cities, 2016

5. County-wide job growth Exceeding projections, Average increase of 7,200 new jobs p/a

6. Sector and occupational structure

7. Industrial Structure Location Quotients – >average sector concentrations –Education (3.06), –Information and communication (1.63), –Health (1.46). A diverse range of over-lapping sub-sectors –Automotive – BMW, F1, regional supply chain for regional ‘motorsport valley’ –Bio-tech and pharma – 7,200 jobs, 163 companies (county-wide) –Digital related sectors – 22,000 (county-wide) –Publishing – a sector undergoing change, 3,500 jobs, 100 companies (city) –Professional services, circa 10,000 people (city) –Visitor economy and retail – challenging nationally, but growth expected e.g. Westgate 3,100 jobs (city)

8. Main location of jobs in Oxford by industry, 2011 – 113,900 jobs total Population Industries & jobs Housing Social divide City Centre 31,400 workers Other 12,500 Education 12,200 Prof & scientific 2,600 Retail 3,700 Headington 19,100 workers Industry of employer Health & social work 10,300 Education 4,200 Prof & scientific 1,500 Other 3,100 Other 8,100 Manufacturing 3,700 Health & social work 1,800 Retail & wholesale 2,600 Cowley 16,200 workers Industry of employer Source: 2011 Census, Office for National Statistics

9. Deprivation and inequality 25% children below poverty line 25% in private schools Below average GCSE attainment – 51% 10 areas in 20% most deprived 63% NVQ4+ v 37% 22% no/low skill levels 16:1 house price earnings ratio

10. Oxford Economic Growth Strategy Vision: the UK’s most prosperous, resilient, diverse, globally competitive knowledge-based economy City Vision: A world class city for everyone Priorities Regeneration Employment space Housing delivery Investment in infrastructure Retain and attract business Reduce inequalities Increase value of tourism Do it sustainably – retain quality of place

11. Deliver and attract specialist and flexible skills at all levels, across all sectors, as required by our businesses, with full, inclusive employment and fulfilling jobs. Provide a quality environment and choice of homes needed to support growth and capitalise upon the exceptional quality of life, vibrant economy and the dynamic urban and rural communities of our county. Encourage innovation led growth, underpinned by Oxfordshire’s strengths in University research and development, business collaboration and supply chain potential. Allow people to move freely, connect easily and provide the services, environment and facilities needed by a dynamic, growing and dispersed economy. Strategic Economic Plan Priorities Deliver and attract specialist and flexible skills at all levels, across all sectors, as required by our businesses, with full, inclusive employment and fulfilling jobs. Provide a quality environment and choice of homes needed to support growth and capitalise upon the exceptional quality of life, vibrant economy and the dynamic urban and rural communities of our county. Encourage innovation led growth, underpinned by Oxfordshire’s strengths in University research and development, business collaboration and supply chain potential. Allow people to move freely, connect easily and provide the services, environment and facilities needed by a dynamic, growing and dispersed economy.

12. Oxford’s Economy – a summary World class innovation and knowledge base Fast growing Diverse industrial structure Pockets of deprivation related to education, health & housing Challenges of constrained infrastructure A strong, yet tight labour market A need to plan for growth

13. The job market now? OxLEP have invested in developing higher quality ‘LMI’ www.o2i.org/content/lmi www.o2i.org/content/lmi Local Economic information Jobs in most demand Concentrations of specialisms vs numbers (view both) –Science, education, creative vs sales & retail, admin, nurses and health Top 15 occupation groupings Largest employer vacancies (e.g. diamond light source top 15) Salary levels (average and range) Apprenticeships: highest paying, most numerous types Sectors with most demand Growth in jobs (e.g. construction, food and beverage)

15. And Oxford in the future?

16. Assets for future diversification

17. Trends driving change Demographics Automation and Robotics Digitisation and Technology Increasing need for higher skills

18. The future job market Replacement demand – 160,000 jobs to 2024 Huge impact - health, education, administrative and managerial roles. Expansion demand: Low carbon services and technology IT – cloud computing, 3D printing and big data Healthcare and life sciences – technology advanced Social care –demographic changes Advanced engineering, electronics, space Creative and digital industries

19. What does this mean for skills? The basic minimum necessary Portable/ transferred between different jobs Attitude & self-control Listening well/ empathy Team working & building rapport Critical thinking & problem-solving Specialist technical skills, e.g. IT Qualifications Relevant work experience

20. What does this mean for our approach? Promote apprentice route on a par with HE route Develop and use the best available information Develop relationships with business Focus on business skills Focus on STEM for jobs of today and tomorrow Students and their journeys are different – track what works.