Over 700,000 UK jobs created in 2014/15, research shows

Over 700,000 jobs were created by businesses in the UK from 2014 to 2015, according to research by the Enterprise Research Centre (ERC).

The research found that 709,174 new jobs were created over this period, with nearly a quarter of them being created by businesses in London.

Record

According to the research, the creation of the jobs resulted in private sector employment reaching a record high, rising to 21.6 million.

The largest number of new start-up businesses were found in the capital and the South East, whilst a larger number of start-ups that survived past three years were found in Cumbria and the North East of Scotland.

The research found that Scotland, Wales and Northern Ireland had the highest numbers of the fastest-growing businesses. 

Commenting on the results of the research, ERC Deputy Director Professor Mark Hart said that it shows that the creation of jobs is spread throughout the UK.

Last month, Chancellor of the Exchequer Phillip Hammond announced the national productivity investment fund in his Autumn Statement. The fund will be spending £23 billion over the next five years to help boost productivity in the UK.

Vibrant

Business Minister Margot James stated that the research shows vibrant business growth across the country and the highest ever level of employment in the private sector.

She added: “The government will shortly publish the industrial strategy green paper to boost productivity, create more jobs and drive economic growth. The new £23bn national productivity investment fund will help to ensure our economy is fit for the future, and an extra £400m for the business bank will unlock investment for innovative firms across the country.”