87% UK areas, including Oxfordshire, show stagnant job creation and destruction rates, impacting business creativity, per ONS.
Oxfordshire's job market may hinder business creativity due to a stagnant UK jobs market with falling job creation and destruction rates in 87% of areas, including Oxfordshire, according to the Office for National Statistics (ONS). The ONS claims that "creative destruction" - the steady rate of job creation and destruction - is vital for long-term economic growth, as it encourages innovation. Chancellor Rachel Reeves announced a £7.3bn National Wealth Fund to invest in high-growth industries, aiming to secure triple that amount in private investment.
July 14, 2024
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