Southampton currently has a fairly tight labour market. Economic activity rates in Southampton at 79.3% are comparatively low compared to the South East � average rate 82.8% which suggests that there is considerable untapped potential in the local population to facilitate further job growth.
Labour demand has grown in recent years reducing unemployment from its peak at 14.7% in 1993 to its current level. This reflects national employment trends and a sustained period of economic growth in the UK and particularly in the South East. It also reflects a change in employment structure, where information and communication technologies have brought about rapid growth of the knowledge based service industries and the employment infrastructure to support that growth.
In addition, the retail and leisure industry has expanded and developed in the city region. The development of WestQuay alone has created more than3,000 jobs in its construction and operation. That development has become a catalyst for further investment, most notably in pubs, clubs, bars and restaurants, which has created a large number of full and part-time job opportunities for local people and students.