The Centre for Cities has recently produced its up date of how the UK’s cities are doing economically. They include Reading in their list. They combine urban areas in Wokingham Borough with Reading Borough for the purpose of their comparative study.
Reading is doing well. The wider urban area has the biggest stock of businesses outside London per 10,000 of the population. London is the most enterprising of all UK cities with 519 businesses per 10,000. Reading is in second place with 441.
Reading is in fourth place on average wages, at £619 per person. Economic output per person is £70,900 a year for each worker in Reading, compared to £73,400 in London. Reading is in second place on this measure.
Unemployment is down to 0.9% of the workforce, making Reading the sixth lowest urban area for unemployment. Reading is in fifth place for people having good qualifications, with 47.5% of the workforce having higher level certificates (Level 4 or above).
Reading is also one of the dearest places for housing, reflecting the good economic news. That is why we need to do more to promote affordable home ownership so younger people can get started with a home of their own.