British <strong>Chamber</strong>s <strong>of</strong> <strong>Commerce</strong>Change <strong>of</strong> approach required <strong>to</strong> tackle youth unemployment despite good results, saysBCCJohn Wastnage, Employment and Skills Adviser at the British <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> (BCC), comments on the2013 A-Level results:“Many congratulations <strong>to</strong> all the students and teachers, whose hard work has delivered another excellent set <strong>of</strong>academic results. The end <strong>to</strong> perpetual grade inflation will go some way <strong>to</strong> res<strong>to</strong>ring employers’ faith in A-levels.We are pleased <strong>to</strong> see more students taking science and maths, however it is concerning that there has been adrop in the number <strong>of</strong> foreign languages being taken at A-level.“It should <strong>of</strong> course be celebrated that academic achievement amongst school-leavers has remained high.However youth unemployment has risen in recent months and it is clear that there are far <strong>to</strong>o many youngpeople whose potential is being undermined because they have not been taught the broader skills required <strong>to</strong>succeed in the workplace - despite the strong desire <strong>of</strong> employers <strong>to</strong> hire and train them.“Those who didn’t get the results they wanted shouldn’t despair. Success is not dependent on academicachievement alone, and employers value hard work, a positive attitude, and skills that are relevant <strong>to</strong> theirbusiness. Apprenticeships can <strong>of</strong>fer a better route <strong>to</strong> a highly skilled and well-paid job. But if we are <strong>to</strong> make astrong attempt <strong>to</strong> tackle youth unemployment we need <strong>to</strong> see more careers education in schools, more contactbetween pupils and businesses via work experience placements and employer visits, and for students <strong>to</strong> havebasic business skills when they leave school.”www.britishchambers.org.uk4Previous pageNext page
State <strong>of</strong> the <strong>Somerset</strong> Economy 2013The State <strong>of</strong> the <strong>Somerset</strong> Economy 2013report, issued in July 2013, providesinteresting reading for businesses based inthe countyCommissioned by <strong>Somerset</strong> County Council andproduced by the Marchmont Observa<strong>to</strong>ry at theUniversity <strong>of</strong> Exeter, the executive summary can bedownloaded from the <strong>Somerset</strong> <strong>Chamber</strong> website butfor convenience we’ve also pulled out some <strong>of</strong> the keyhighlights <strong>to</strong> share with you here.The <strong>Somerset</strong> economy: The <strong>Somerset</strong> economy is projected <strong>to</strong> grow byaround £2.38billion between 2011 and 2021,providing great opportunities for businesses withinthe county. The value <strong>of</strong> economic output in <strong>Somerset</strong> wasmarginally higher (0.4%) in 2011 than in 2007, whilein contrast, the output <strong>of</strong> the UK economy was 1.8%lower. The <strong>Somerset</strong> economy is weighted <strong>to</strong>wards theservice sec<strong>to</strong>r with services generating £6billion,equivalent <strong>to</strong> two-thirds <strong>of</strong> GVA in 2011. The county’s largest single sec<strong>to</strong>r, generating morethan £1.5billion in 2011, is the manufacturingsec<strong>to</strong>r, with a significant contribution coming fromaerospace and advanced manufacturing. <strong>Somerset</strong> boasts a higher share <strong>of</strong> employment inhigh-technology manufacturing than the averageacross England. Both the Hinkley Point nuclear power stations and theemerging renewables sec<strong>to</strong>r present excellen<strong>to</strong>pportunities for future economic growth. There were 21,865 (VAT and/or PAYE registered)businesses in <strong>Somerset</strong> in 2012, 90% <strong>of</strong> which aremicro businesses employing fewer than 10 people. <strong>Somerset</strong> has a relatively mature businesspopulation with more than half (52%) trading for 10years or more, compared with the England average <strong>of</strong>42%. Businesses started in <strong>Somerset</strong> have better survivalprobabilities than average and are more likely <strong>to</strong>reach their fifth anniversary.Employment: There were an estimated 259,000 jobs in the<strong>Somerset</strong> economy by 2011. 81% <strong>of</strong> employment in <strong>Somerset</strong> in 2011 was in theprivate sec<strong>to</strong>r. Employment in <strong>Somerset</strong> is expected <strong>to</strong> grow byaround 22,400 jobs in <strong>to</strong>tal between 2011 and2021, slightly higher than the UK average growth. Almost three quarters (74%) <strong>of</strong> <strong>Somerset</strong>’s workingage population were in employment during Oc<strong>to</strong>ber2011-September 2012, three percentage pointshigher than the England average. 10,100 <strong>of</strong> <strong>Somerset</strong>’s residents were unemployedduring Oc<strong>to</strong>ber 2011-September 2012, making thecounty’s unemployment rate 4%, half that <strong>of</strong> thenational rate (8%). Hinkley Point C would cause a notable rise in <strong>to</strong>talemployment, with important knock-on effects forunemployment and activity rates.Education & skills: More than 1,400 people aged 19 and under in<strong>Somerset</strong> started on the apprenticeship programmein 2011/12, mostly at the intermediate level. Almost all economically active <strong>Somerset</strong> residentsaged 18 <strong>to</strong> 59/64 have a qualification, with the vastmajority (82%) having a qualification at Level 2 orabove. The vast majority (93%) <strong>of</strong> A Level students in<strong>Somerset</strong> achieved at least two A Level passes (A*-E)in 2012, in line with the national average. Almost three-fifths (57%) <strong>of</strong> young people in<strong>Somerset</strong> left school with five or more good GCSEpasses (A*-C) including maths and English. A study in 2011 found that almost two thirds (64%) <strong>of</strong><strong>Somerset</strong> employers had <strong>of</strong>fered their staff trainingin the last 12 months.If you would like <strong>to</strong> find out more, you can downloadthe 28-page executive summary <strong>of</strong> the State <strong>of</strong> the<strong>Somerset</strong> Economy 2013 report from the <strong>Somerset</strong><strong>Chamber</strong> website.Quarterly Economic Survey Q3 - www.britishchambers.org.uk/qes-surveyThe QES is the largest survey <strong>of</strong> its kind in the UK and for it <strong>to</strong> retain its reputation as a reliable economicindica<strong>to</strong>r it is vital that <strong>Somerset</strong> <strong>Chamber</strong> and other affiliated <strong>Chamber</strong> members continue <strong>to</strong> respond.Log on by 18th September with the following details <strong>Chamber</strong> Number: 35Previous pageNext page5