Our target to reduce the gap in productivity
Gross Value Added (GVA) measures the contribution to the economy of each individual producer, industry or region in the United Kingdom. GVA per hour worked is a way of measuring productivity. The North East Strategic Economic Plan (SEP) sets a target to reduce the gap between the North East LEP area and England excluding London on GVA per hour worked by 50% by 2024.
Between 2014 and 2019, the gap between the North East LEP area and England excluding London had widened slightly (by 1%) as productivity increased a little faster in other parts of England outside of London.
Productivity had been defined in earlier versions of the SEP as GVA per full time equivalent job, but due to changes in the underlying datasets used to measure this, we decided to amend the definition to GVA per hour worked. This will also bring us in line with the Industrial Strategy and is the Office for National Statistics recommended measure of local labour productivity.
Source: Subregional productivity in the UK: (ONS, last updated 23 Jul 2021)
Data information: Based on North East LEP area and England excluding London