Economic bulletin

View our latest economic bulletin.

We are ambitious for the economy of Staffordshire, our businesses, and people. The impacts of global events continue to be felt on the local, national, and global economies and cannot be ignored. However, the county council, Government, and our partners, will continue to support Staffordshire’s residents and businesses through challenging times, ensuring we are well-placed to deliver a more resilient, more dynamic and more productive local economy.

Our ambitious Economic Strategy is our roadmap to delivering our ambitions for the Staffordshire economy, where our existing business are helped to grow, new businesses are established and thrive, our residents have the skills needed to access the jobs of the future and our towns across the county are supported to be places we can all be proud of.

An Employment and Skills Strategy 2023-2030 has been developed to support this and can be used to guide future employment and skills work programmes, to enable effective communication of Staffordshire’s shared employment and skills goals, and to inform the development of the Local Skills Improvement Plan (LSIP) for Stoke-on-Trent and Staffordshire.

To effectively achieve our priorities and deliver our long-term vision for our economy we need robust ongoing analysis and evidence of the latest economic picture, ensuring that we are aware of any challenges that may arise. The monthly Economic Bulletin forms a key part of our live evidence base.

Welcome to the latest edition of the Staffordshire & Stoke-on-Trent Economic Bulletin produced by our Economy, Skills and Insight Teams, which provides the timeliest analysis of official Government data, national intelligence and local insights on the state of the local economy.  

Latest edition

 Welcome to the latest edition of the Staffordshire & Stoke-on-Trent Economic Bulletin produced by our Economy, Skills and Insight Teams, which provides the timeliest analysis of official Government data, national intelligence and local insights on the state of the local economy. 

Alongside information on the Claimant Count and Job Vacancies that will be a part of every Bulletin, this month’s issue also provides more detailed youth claimant count analysis and updated ward level analysis of the claimant count to help identify areas which are being impacted the hardest by unemployment and a reliance on work-related benefits across Staffordshire & Stoke-on-Trent and where there may be a greater need for support. We also provide analysis of the latest business insolvency data to further understand how businesses are faring during the current economic climate. 

We hope you find the Bulletin useful and welcome your comments and suggestions on further information you would like to see included in future editions.  If you do have any feedback please send your comments to SkillsAnalysis@staffordshire.gov.uk. 

Kind Regards,  

Darryl Eyers 

Director for Economy, Infrastructure and Skills, Staffordshire County Council   

Key messages from edition 68   

Local Picture 

  • In Staffordshire we are starting to see a rise in the Claimant Count, although the rate remains below that seen a year ago. At the same time, we have seen the number of job vacancies in the local economy show a slight increase following an overall downward trend, reflective of the challenging economic climate.  
  • During these challenging times we will continue to support our residents into work and ensure that Staffordshire has the strong workforce it needs to grow the economy. 
  • We also continue to support local businesses that face ongoing challenging conditions due to a wide range of factors including high interest rates and energy prices, increased commodity costs, increased wage levels, and lower consumer demand.  
  • Looking at the local data in more detail, the number of work-related benefit claimants in Staffordshire now stands at 15,505, this is 175 fewer claimants than at the same time last year. This is equivalent to a -1.1% annual reduction which is slightly lower than the reduction seen nationally (-1.2%) and lower than regionally (-2.0%).  
  • The claimant rate in Staffordshire is currently 2.8% of the working age population, which has decreased from 2.9% last year. 
  • Staffordshire continues to have one of the lowest claimant rates in the region, far lower than the regional average 5.3% which decreased from 5.4% the previous year, and lower than the England average of 4.1% which has remained unchanged since the previous year. 
  • We will continue to support those residents that unfortunately find themselves out of work to access employment through our partnership working and dedicated Jobs Brokerage service. 
  • This month the youth claimant count in Staffordshire stands at 3,445, this is 350 more youth claimants than at the same time last year. This is equivalent to an 11.3% annual increase, which is slightly higher than the increases seen both regionally (9.8%) and nationally (9.1%). 
  • The youth claimant rate in Staffordshire is currently 5.5% of the 18-24 population, which is an increase from 4.9% last year. This is a concerning trend seen both regionally and nationally. It is important to note that Staffordshire continues to be lower than the national rate of 6.0%, which increased from 5.5% and far lower than the regional rate of 8.1% which increased from 7.4% over the last year. Our focus continues to be to engage with our younger residents and support them to find employment or to continue in education and training. 
  • Turning to job vacancies, Staffordshire saw a 1% increase in the number of available job vacancies between March 2025 and March 2026 to a total of 12,700. This is lower than the number of work-related benefit claimants in Staffordshire. Stoke-on-Trent saw a decrease of 2% in job vacancies to a total of 4,700 which is significantly lower than the number of claimants. Across the region in the past year there was a 4% increase, and nationally there was a 7% increase in the number of job vacancies. 
  • Considering the top 20 job vacancy occupations in Staffordshire and Stoke-on-Trent, demand for roles in social care continue to remain high with ‘Care Workers & Home Carers’ being the most in demand occupations. 
  • The following occupations, ‘Cleaners & Domestics,’ ‘Teaching Assistants’ and ‘Sales Related’ also have strong demand. 
  • In the Hospitality sector, ‘Kitchen & Catering Assistants’ roles are most in demand. 
  • The Logistics sector has high demand for ‘Large Goods Vehicle Drivers,’ ‘Warehouse Operatives,’ and ‘Transport & Distribution Clerks/Assistants.’ 
  • In the Education sector there is particularly high demand for and ‘Secondary Education Teaching Professionals,’ ‘Teaching Professionals,’ ‘SEND Teaching Professionals’ and ‘Primary Education Teaching Professionals.’ 
  • Demand for ‘Managers & Directors’ and ‘Sales & Retail Assistants’ in the Retail and Wholesale sector remain strong. 
  • There is strong demand for ‘Customer Service occupations,’ ‘Project Support Officers’ and ‘Book-keepers, Payroll Managers & Wages Clerks’ across business sectors.  
  • There is also high demand for ‘Early Education & Childcare Practitioners.’ 
  • There is high demand in the Health and Social Care sector for ‘Social Workers.’  
  • In the Engineering sector ‘Plant & Machine Operatives’ are in demand. 
  • It is in these areas of the economy where job vacancies remain particularly high and where we are hearing reports of labour and skills shortages with a mismatch of workers or skills to fill vacant jobs. 
  • This has the potential to slow down economic growth and limit business survival unless the labour shortage and skills gap is quickly and effectively addressed. Clearly employment support organisations, skills providers and the Government’s Plan for Jobs including the Connect to Work schemes and new Skills Bootcamps have a vital role in upskilling and reskilling jobseekers into areas of demand and preventing them becoming long-term unemployed. Government and business sectors have a key role in ensuring that jobs in areas of demand are attracting workers with good pay and terms and conditions to help prevent labour shortages. 
  • There continues to be a high number of jobs available in the local economy and the need now is to ensure that there is a strong local labour pool with skilled workers able to fill these roles to support business recovery/survival and improve prosperity through better pay. The national and local support which is in place to support those that have been unfortunate enough to lose their jobs is vital in both reskilling and upskilling as well as enabling potential applicants to access the opportunities available. Encouraging those that have become economically inactive since COVID through the Connect to Work Programme will further help to address labour shortages and skills gaps. 
  • Staffordshire County Council’s dedicated Job Brokerage Service is designed to do exactly this by matching local people, employers, and training providers to fill jobs and provide people with the jobs and careers they need. 
  • There are clear emerging opportunities for job creation in the digital economy (including online retail and e-commerce), construction sector (including retrofitting homes), the car industry e.g. electric cars at Jaguar Land Rover, and in manufacturing e.g. hydrogen combustion technology at JCB.  
  • We will also look to build on our existing strengths including engineering and advanced manufacturing through the adoption of AI, Automation and Machine Learning, construction to achieve Government house building targets and build major new infrastructure projects such as the West Midlands Freight Interchange which will create 8,500 new jobs. Advanced logistics within the ecommerce sector continue to drive demand, evidenced by Pets At Home in Stafford recently creating over 750 new jobs and Carlsberg Britvic investing £4 million in a new depot, with plans to create several hundred additional jobs. 
  • We will continue to support our residents into work and ensure that Staffordshire has the strong workforce it needs to grow the economy. 

 

Local Initiatives 

  • Staffordshire and Stoke-on-Trent businesses that have been turned down by other lenders can now apply to the Staffordshire and Stoke-on-Trent Business Loan Fund, supporting businesses to grow through affordable, unsecured loans from £10,000 to £50,000.  
  • Applications for Staffordshire Means Back to Business Scheme business loans and grants remain open to small businesses in Staffordshire, including the Get Started and Grow Scheme. 
  • Alongside this there is support available through the Growth Hub and we have our start-up schemes and the Staffordshire Jobs and Careers Service. 
  • The Staffordshire Business and Enterprise Network (SBEN) continues to support local businesses with the transition to Net Zero. 
  • Businesses in Staffordshire can now apply for free energy assessments through the Green Solutions scheme. 
  • To ensure residents have access to the support needed to find employment there are several employment and skills programmes which they can access including the Connect to Work and skills bootcamps. 
  • Stoke-On-Trent & Staffordshire Growth Hub have partnered with the Federation of Small Businesses (FSB) to offer free 1-2-1 virtual business support sessions. 
  • The Staffordshire County Council Workplace Health Service, working with public health and local health experts, offers businesses a comprehensive and funded package of online and in-person support. 
  • Developer Indurent plans to invest £800m in Staffordshire over the next few years. The industrial and logistics specialist is currently delivering or promoting six million sq ft of space in the county, said senior director of planning Richard Hickman. "These sites are either in the planning process with a draft allocation, or they’re sites that we're building on currently," said Hickman. "To bring those sites forward over the next few years, we’re going to be investing something in the order of £800m. That's a huge investment and a reflection of the confidence that we have in Staffordshire. "We’re very much focused on the spine of the country and Staffordshire is the central part of that spine." 
  • JCB is marking its 80th birthday with news of a £100 million investment in ultra-modern manufacturing facilities at its global headquarters in Staffordshire. The project at the company’s plant in Rocester, Staffordshire, will see the installation of a fully automated powder paint plant costing £60 million as well as a full modernisation of the shop floor, with new machining centres, friction welders and cylinder boring machines. 

 

National Context 

  • This month we have heard warnings from the International Monetary Fund that the ongoing conflict in Iran could lead to a global recession, with the UK facing the most significant impact on growth.  
  • The IMF has downgraded its growth forecasts for the UK, predicting inflation and unemployment will rise as a result of the conflict and increasing energy prices, with the biggest hit among G7 countries. 

Economy 

  • The UK economy grew faster than expected in February ahead of Iran war. 
  • The economy grew by 0.5% in the three months to February 2026, compared with the three months to November 2025. This follows a growth of 0.3% in the three months to January, and no growth in the three months to December 2025. 
  • Monthly GDP grew by 0.5% in February 2026, following a growth of 0.1% in January 2026 (revised up from no growth) and 0.1% in December 2025. 

 

Cost of Living 

  • UK inflation rose to 3.3 per cent in March, driven by higher fuel and transport costs. Rising oil prices linked to the Iran conflict are expected to keep inflation elevated, adding pressure on households and the wider economy. 
  • Against a volatile backdrop in the war, the International Monetary Fund has warned that Britain faces the sharpest growth slowdown and joint highest inflation rate in the G7 this year amid the threat of a global recession. 
  • March’s headline rate of inflation remains above the 2% target set by the government. The Bank of England left interest rates unchanged last month while warning that a prolonged conflict and disruption to global energy markets could force it to raise borrowing costs to stop high inflation from becoming entrenched. 
  • Wage growth continues to slow. Annual growth in employees' average earnings in Great Britain was 3.6% for regular earnings (excluding bonuses) and 3.8% for total earnings (including bonuses) in December 2025 to February 2026. 

 

Business Conditions 

  • The latest results from Wave 154 of the Business Insights and Conditions Survey (BICS), which was live from 6 to 19 April 2026, suggest that business conditions have become more challenging due to the conflict in the Middle East. 
  • The latest business insolvencies data shows that in March 2026 there were a total of 2,138 company insolvencies in England and Wales, 3% higher than the number registered in the previous year (2,080 in March 2025), and 13% lower than the number registered three years previously (2,470 in March 2023). The main concern around company and individual insolvencies are associated issues such as mental health and homelessness. 

 

Labour Market 

  • Estimates for payrolled employees in the UK fell by 74,000 (0.2%) between February 2025 and February 2026 and decreased by 6,000 (0.0%) between January and February 2026.  
  • The UK employment rate for people aged 16 to 64 years was estimated at 75.0% in December 2025 to February 2026. This is down in the latest quarter but largely unchanged compared with estimates of a year ago. 
  • The UK unemployment rate for people aged 16 years and over was estimated at 4.9% in December 2025 to February 2026. This is down in the latest quarter but above estimates of a year ago. 
  • The UK economic inactivity rate for people aged 16 to 64 years was estimated at 21.0% in December 2025 to February 2026. This is up in the latest quarter but below estimates of a year ago. 
  • The UK Claimant Count for March 2026 increased on the month but decreased on the year to an estimated 1.694 million. 
  • The estimated number of vacancies in the UK has decreased in the latest quarter, following broadly flat estimates since March to May 2025. Early estimates for January to March 2026 suggest a decrease of 29,000 (3.9%), to 711,000, compared with October to December 2025, this is the lowest level of vacancies since February to April 2021. 

 

Conclusion 

  • In conclusion, clearly the ongoing conflicts across the world are starting to have an increased impact on the UK and local economy. We are seeing more businesses impacted by issues such as price rises and supply chain constraints, which in turn is leading increasing cost of living issues for our residents. Both our businesses and residents will therefore need increased support during this time of heightened global instability. 
  • It is positive that the UK economy grew faster than expected in February prior to the Iran war, but the war in Iran is expected to impact the economy at least in the short-term due to the associated energy shock. 
  • The war has also seen UK inflation rise to 3.3 per cent and is expected to keep inflation elevated and the Bank of England may need to raise interest rates to help control inflation, all of this adds to the pressures that households and businesses are already experiencing. 
  • Alongside rising global uncertainty and the introduction of new business-related UK taxes, many businesses are seeing their turnover impacted by longer-term issues including high interest rates and energy prices, increased commodity costs, wage pressures, supply-chain disruption, lower consumer confidence, and some labour market challenges. 
  • The labour market continues to loosen, with wage growth slowing and those in employment declining. This all comes at a time when job vacancies have seen a long-term decline to their lowest level since early 2021, with the challenging economic conditions meaning more businesses have reduced recruitment and made redundancies, therefore it will be more challenging for those looking for work to find work. 
  • During these challenging times we need to continue to support those still struggling with the cost-of-living, residents to transition into work and viable businesses to survive and grow. 
  • In Staffordshire we have a confident, diverse, and robust economy, demonstrated by the improvement and recovery witnessed since the pandemic. As the ongoing global and national socio-economic challenges persist it remains vital that local partners work together to support local businesses and residents. We continue to deliver the Staffordshire Means Business Programme which has helped hundreds of Staffordshire businesses transition to new business models including diversification, digitisation and greenification to improve their viability and sustainability. 
  • We continue to support residents into work and help businesses address ongoing labour shortages and skills gaps to aid survival and growth. A key part of this being the Staffordshire Jobs and Careers Brokerage Service which is designed to match local people, employers, and training providers to fill jobs and provide people with the jobs and careers they need. We are also delivering the new Connect to Work programmes which forms a fundamental part of our Get Staffordshire and Stoke-on-Trent Working Plan. 
  • Alongside this, skills provision, such as the new Institute of Technology, has a significant role to play in ensuring that local residents have the skills and training needed within the local economy to support increased growth, productivity, and prosperity. Reskilling and upskilling residents from declining sectors into priority growth areas of the economy such as digital, green, advanced manufacturing, advanced logistics, construction, and health and social care where they can access higher value better paid jobs will be key.