Peterborough named among top performers as recovery starts
Jobs vacancies in Peterborough have bounced back to pre-pandemic levels with the recovery outpacing most other UK cities.
A new study shows that employment opportunities in Peterborough are now four per cent higher than they were at the start of February last year.
Manufacturing and distribution companies have created the majority of the vacancies driving the city into the top 10 best performers across the UK.
Peterborough is ranked as the eighth best performing city in the table compiled by the research organisation Centre for Cities.
The survey states that just nine cities or towns out of 63 now have more job postings than before the pandemic started.
The top three are Barnsley (21%), Mansfield (20%) and Stoke (17%) and the figures show that the national recovery is being led by the north and the Midlands.
Elena Magrini, senior analyst at the Centre for Cities, said: “The reason for Peterborough’s success is the large number of manufacturing, distribution, warehouse and transport companies in the city.
“They have not been as badly hit by the pandemic and the lockdown closures as those areas which have a high proportion of businesses in the hospitality sector.
“While we are seeing more jobs being advertised we also need to see a fall in the monthly Universal Credit claimant figures.
She added: “Not everywhere is seeing yet the beginnings of post-pandemic recovery. Despite this, we have reasons to be optimistic, particularly given the pace of the recovery in the North and Midlands.
“Once we have reopened the economy, policy makers need to focus on building back better – growing the economy by creating better paid, higher skilled jobs for people right across the country.”
Tom Hennessy, chief executive of Opportunity Peterborough said, “It’s fantastic to see Peterborough performing so well in the latest analysis from Centre for Cities.
“Data like this proves the strength and resilience of Peterborough’s businesses, supply chains, and its broader economy to residents and prospective investors.
He added: “As we’ve seen during other global economic downturns, although Peterborough is initially hit hard, it can recover just as quickly.
“This will also have been boosted with the arrival of many new employers over the last 12 months alongside the expansion of some business’ footprints in the city as they’ve pressed ahead with investments. The growth of the jobs market in particular is a promising sign of broader business recovery and suggests the city will maintain a strong recovery once lockdown ends.”
Online retailer Amazon and food and drink makers AM Fresh and Oatly are among some of the city’s job creators.