Economic update

Sections:

Introduction

This website is regularly updated monthly with information about Bristol’s economy as it changes during this period of recession.

The key indicators for the recession, house prices and JSA (Job Seekers Allowance) claimants, have stablized in recent months:

After increasing rapidly (more than doubling) in the year to May 2009 and remaining more or less unchanged in the three months to August 2009, the number of JSA claimants resident in Bristol fell in the f consecutive months to December 2009 and then, as expected, increased in January 2010. There were 11,172 JSA claimants resident in Bristol in January 2010 (Nomis). This represents 3.9% of the Working Age Population (WAP) of Bristol and is 0.4 percentage points below the rate (4.3%) for England.
After 18 months of house price falls, average house prices in Bristol rose for the seventh consecutive month to £166,483 in December 2009, a rise of 0.7% in the month and 10.5%% since May 2009, at which time house prices were at their lowest since August 2004, averaging £150,462. There was and annual increase of 2.7% between December 2008 and 2009. The fisrt such increase since June 2008. However sales volumes remained low with only 535 sales reported in October 2009 (Land Registry), that is only about 75% the average (710) sales for October in the ten years to 2007.
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For more information and help for businesses and individuals on investment, jobs and training, finance, housing and energy advice visit Beat the Recession pages.
The council has put into place a Recession Action Plan to help create more jobs and training opportunities, provide advice and support, and deliver financial help wherever possible.