Made famous by LS Lowry’s paintings, Salford’s docks and factories were at the heart of Greater Manchester’s industrial revolution.

Following a long period of de-industrialisation, the city has re-emerged as a dynamic and growing economy thanks to a regeneration process spanning decades.

In particular, Salford Quays has become a key, shopping, leisure, office and residential hub, which will be bolstered further by the completion of the MediaCityUK scheme.

But many neighbourhoods in the city are classed as among the most deprived in the country, with an average of more than nine people competing for every Jobcentre vacancy.

Overall, Salford is a central driver of growth for the entire Greater Manchester economy, generating around £4bn of GVA (Gross Value Added) a year.

There is a stock of around 7,700 businesses, the majority of which are medium-large sized. In fact, it has the highest proportion of firms employing more than 200 people outside of Manchester within the city region.

The city has seen strong growth in business start-ups, with the highest growth in stock per population out of any of the 10 local authorities in Greater Manchester, at 19.6%.

Similarly, the number of private sector employees has increased from 82,400 to 91,900 over a five year period.

The biggest driver of this growth has been in the financial and professional services sector, which has more than doubled over the past decade.

Other areas that have seen double-digit growth over the same period are health, digital media and hospitality and tourism.

Latest figures show around 9.2% of the workforce – 8,800 people – are classed as having professional occupations, which is the same ratio as people with process plant and machine operative jobs.

The public sector also remains a key sector, employing 25,700 people and accounting for more than a fifth of the workforce.

But a report by the Greater Manchester Commission for the New Economy warns: “Despite the growth of the private sector in Salford, the fact that a higher proportion of Salford’s residents work for the public sector than the Greater Manchester average suggests that cuts in public funding could have a bigger impact upon Salford’s resident population than its economy as a whole.

“This also suggests the newly created private sector jobs are being created from outside Salford.”

Overall, people living in Salford have lower skills than Greater Manchester as a whole, with just 23.4% having an NVQ Level 4 or above.

The average resident’s salary is £22,954, compared to £24,016 across the city region and £25,931 nationally.

IN NUMBERS

Total population 225,100

VAT registrations last year 680

Average salary 22,954

Unemployed people per Jobcentre vacancy 9

Tweet