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Gloomy outlook for Hastings' economy



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Published Date:
16 July 2008
Hastings is home to one of the country's most struggling economies, according to a new report.
The analysis of 56 cities and towns paints a gloomy picture for Hastings, along with areas such as Barnsley and Wigan, which are deemed to be falling behind without any sign of the trend being reversed.

Meanwhile, it says some cities such as Read
ing, Bristol, Manchester and Newcastle made "substantial gains" in economic growth over the past decade by attracting higher-value businesses and skilled jobs.

The Work Foundation consultancy and research organisation report, called "How can cities thrive in the changing economy?" points towards a widening gap between thriving areas and those slipping into economic decline.

It suggests the disparity will grow with the credit crunch biting hard and increasing fears of recession.

Alexandra Jones, associate director at the Work Foundation, said: "Some big cities of the UK have clearly bounced back from the decline of manufacturing, and have galvanised themselves to be productive, thriving, 21st century places.

"But look at the next tier and political alarm ought to set in. The stuck cities of Britain have rising proportions of people in low socio-economic groups and very low rates of employment in better-paying professional jobs.

"Their businesses have low productivity rates. Many refuse to recognise that their economic future relies on trade links with a neighbouring city that, despite being a historic rival, is now thriving. And they are often blighted by either chaotic or complacent leadership."



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  • Last Updated: 16 July 2008 1:40 PM
  • Source: n/a
  • Location: Hastings
 
 
  

 
 


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