The latest Business Intelligence Report for January 2025 report a comprehensive overview of the local job market, wage growth, and investment climate, highlighting both challenges and positive developments.
Over the past year, Hertfordshire’s economy has mirrored broader national trends, experiencing significant shifts. The job market is gradually cooling and rebalancing after a period of high demand and staffing shortages. Despite a rise in unemployment in early 2024, the rate stabilized in the latter half of the year, remaining low compared to the rest of the UK.
Job vacancies have decreased by 27% from 2023, with 161,759 unique postings in 2024. Economic uncertainty, supply chain disruptions, and shifts in business priorities contributed to these challenges. However, the employment rate remains high at just under 80%.
Investment climate saw a reduction in private equity deals and overall investment, yet the average value per deal increased, indicating strong investor appetite.
Hertfordshire’s economy shows resilience and potential for future growth.
Read the full report by Paul Witcombe here.