Innovation in core areas 'key to job creation and recovery'
14 September 2011
Posted by Samuel Couratin
In order to ensure that the UK's economy recovers from the global downturn, potential areas of expansion need greater support.
Areas identified in a new study as key areas of growth include healthcare, business services, the digital economy, the 'experience' economy and the low-resource economy.
Produced by the Big Innovation Centre, it states these national strengths can be built upon to generate more jobs and speed up the pace of recovery and greater Government support is needed to remove barriers and achieve success in such areas.
Andrew Sissons, Big Innovation Centre Researcher, explained: "Each of these industries works on different principles and there is much scope for the government to help unlock growth in each of them."
The report, 'The Next Wave of Innovation: Five areas that could pull Britain clear of recession', has been published to coincide with the release of labour market data from the Office for National Statistics (ONS).
According to the ONS data, joblessness in the UK stands at 7.9 per cent, or 2.51 million people, with the activity rate currently at 23.3 per cent.