Employment and pay stats on the Isle of Wight vs Hampshire

The 1998 feasibility study predicted that if we did not have a fixed link one of the outcomes would be that our financial status would worsen vs the rest of SE England.

Using government data comparing 2001 vs 2011 census data for unemployment:

England 4.92% (up 1.57% vs 2001)
Hampshire 3.40% (up 1.48% vs 2001)
IOW 5.26% (up 1.65% vs 2001)

In 2001 we were 0.26% above the average unemployment for England.
In 2011 we were 0.34% above the average unemployment for England.

So our unemployment vs Hampshire and vs England has got worse in the last decade.

What about incomes for those who are employed? I’m using HMRC data here – comparing 1999-2000 and 2012-13

Hampshire £22,091 and then £28,700 mean figures
IOW £16,300 and then £20,600 mean figures (corrected figures)

So in that decade we have fallen 2% vs Hampshire, so the mean income for those in work on the IOW is now 71.8% of what people could earn, working in Hampshire vs 73.8% in the year 2000.

Just to round out these figures and put things in perspective, in the face of falling comparative incomes ferry prices rose 20% above inflation 1999-2014.

It looks like employing KPMG to produce the 1998 study resulted in pretty accurate outputs and predictions.

We need a fixed link as a key way of turning around this depressing economic decline.

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