Data blog: How well has east London bounced back

By Giles Broadbent on June 4, 2014 11:08 AM |

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DATA

The UK's GDP is powering ahead, but Conservative MP Ken Clarke has voiced his concern yesterday that "real people" are not yet feeling the economic recovery.

After taking into account five factors, nine of the top 10 local authorities to have bounced back the most are in London, with Tower Hamlets third.

Check out our interactive graphic.


DETAILS
We took five key indicators that paint a balanced picture of the economic health of an area: average weekly pay, the proportion of people on Jobseeker's Allowance (JSA), house prices, the rate of people becoming insolvent and the rate of new businesses starting up.

We compared these figures for 2008 against the latest available and calculated the percentage improvement (or decline). We then added up the percentages in each of the five categories to give a total point score reflecting the level of "bounce back". A positive score suggests an area is recovering from the downturn. A negative score suggests things have continued to get worse.

For example, if Hackney had a score that was 20% better in 2014 than it was in 2008 for each of the five indicators, then it would be 100 points better off overall.