The following summarises the five defining weaknesses shaping economic growth and prosperity in the borough.
- Significant COVID-19 economic impacts (the economy shrunk by 6% which has direct implications for the prosperity of the borough and living standards)
- Insufficient jobs to prevent people commuting out of the area to work (meaning the borough can’t fully benefit from the talent and spend opportunities of its residents)
- Employment is concentrated in lower value sectors (the borough has reliance on sectors which are typically lower value and vulnerable to disruption, eg health, retail and construction)
- Large parts of the borough fall within the most deprived areas of England (limiting residents’ opportunities and life chances)
- Bury has one of the lowest proportions of residents aged 16+ earning above the national living wage in Greater Manchester (this impacts on living standards and limits residents’ ability to reinvest in the local economy)