This blog post has been produced for the Greater Birmingham Chambers of Commerce to provide industry insight on the findings of the Birmingham Economic Review.
The Birmingham Economic Review 2017 is produced by the University of Birmingham’s City-REDI and the Greater Birmingham Chambers of Commerce, with contributions from the West Midlands Growth Company. It is an in-depth exploration of the economy of England’s second city and is a high quality resource for organisations seeking to understand Birmingham to inform research, policy or investment decisions.
Productivity and Skills for West Midlands Combined Authority (WMCA) region are one of the biggest challenges for the regional economy . GVA per head in the WMCA is currently at £19,423, nearly £3,500 less for each of the 4 million WMCA residents leading to a £14bn output gap compared to the national average.
WMCA report that the components of the output gap highlight issues across all the productivity drivers with insufficient skills, too few in employment and the quality of the indigenous WMCA business base.
Education and Business in partnership
It is essential that Education and Business work together, not just through the Corporate Responsibility Agenda and supporting students develop the essential work ready skills but also to: