The Cumbrian Economy

Overview

Cumbria is England’s second largest county representing 48% of the land mass of the North West.   The area is home to the beautiful Lake District and half the county is designated as National Park or Areas of Outstanding National Beauty.   Alongside this physical beauty is an economy which provides employment for over 215,000 people in over 20,000 enterprises which together produces £6.7bn in gross value.   Major business sectors include manufacturing, tourism-related and the public sector.   The workforce has internationally renowned skills in nuclear, naval shipbuilding and specialist engineering. 

The people in Cumbria are well-recognised as 'one of the area's most valuable natural resources'. The Cumbrian workforce has a first class reputation for productivity, low absenteeism and low staff turnover. 

In the shift from heavy industry to new technologies the workforce has shown itself to be loyal, keen to acquire new skills and adaptable to change. Flexible working patterns are considered a fact of life. 

Following the global financial crisis, the UK economy is now in recession, contracting by 1.5% in the final quarter of 2008. Unemployment in Cumbria in December 2008 was 6370 or 2.1% of the working population which compares favourably with the North West 3.5% and the UK 3%.

Cumbria’s relatively lower exposure to the most vulnerable employment sectors and the recent Chamber of Commerce business survey, in January 2009, suggests the County may be weathering the recession better than other parts of the UK.

For further information follow the link to the Cumbria Intelligence Observatory web site.

Cumbria Intelligence Observatory