By Local Democracy Reporter
Depressing figures detailing Walsall鈥檚 economic growth indicates that the borough is behind national averages on nearly every front.
The information was presented at Walsall Council鈥檚 prosperous places and investment scrutiny committee meeting on Thursday June 3, by the executive director for economy, environment and communities, Dave Brown.
Nearly one in four of Walsall鈥檚 288,736 residents are economically inactive and 12,200 people need to be put to work to hit the government鈥檚 target of 80 per cent.
Brown added that although unemployment rates are high, the number of people claiming benefits is low.
Walsall has 9,545 businesses, but for the size of its population, it needs an additional 3,125 to reach its 鈥榝ull potential鈥.
Also highlighted was a lack of funding going into innovation.
Brown said Walsall was not 鈥榞etting its fair share鈥, receiving just 拢2 per head of UK Research and Innovation (UKRI) funding compared to 拢107 nationally.
The percentage of reception children with a good level of development in Walsall is best in the Black Country but still lagging behind the national average.
The GVA per head in Walsall, a measurement of economic output, is 拢19,069 鈥 鈥榤assively below鈥 the national average of 拢36,632.
Wages in Walsall are rising but still 拢5,000 less than national average at 拢32.624.
Walsall along with the rest of the Black Country has seen 鈥榙ecades of underinvestment鈥, with over a 拢2.3billion shortfall in the last five years alone.
Walsall and the Black Country continue to face socio-economic challenges and 2024 was a tough year. It was heard that early signs for 2025 aren鈥檛 much better.
On a brighter note, Walsall鈥檚 export growth at 39.1 per cent is higher than the national average of 27.2 per cent. In 2022 Walsall surpassed Dudley, Sandwell and Wolverhampton in total export value.
Brown added: 鈥淚 think we all know that if we looked at the borough from an economic perspective, you could draw a line from the north to the south and the demographics of the east and the demographics on the west are almost polar opposites.
鈥淥ver a short span you will see healthy life expectancy, GVA per head massively different, it鈥檚 one of the unique features of Walsall. How it varies so much over a small geographical distance and how stark that line is through the borough.鈥