New jobs are being created across all sectors around Cambridge, with major employment growth driven by knowledge-intensive sectors such as life sciences and healthcare, ICT and high-tech manufacturing.
An annual monitor of the area’s economy from Cambridge Ahead also shows there has also been a strong post-Covid recovery of growth across other, so-called 'non-knowledge intensive' sectors such as transport, education, hospitality and retail. In a 20-mile radius from the centre of Cambridge, knowledge-intensive sectors grew employment by six per cent over the period 2021/22 to 2022/23, led by an 11 per cent increase in life sciences.
Employment in high-tech manufacturing grew 19 per cent in the Cambridge region during this period. Jobs growth was also strong across the wider Cambridgeshire and Peterborough region, up by over four per cent over the period. The survey adds weight to calls for more infrastructure spending in the area to sustain growth. Commenting on the data, Dan Thorp, chief executive of Cambridge Ahead, said:“It shows that the national attention on Cambridge is more than warranted, and our opportunity now is to showcase how national and local leaders can come together to unlock a city region’s full potential.”
Kirsty Gill, chief people officer of Arm, said: “As the location of our global headquarters and a major talent hub for Arm, it is encouraging to see this latest research into the sustained growth in Cambridge and the surrounding area.”
