Sectors
The Milton Keynes economy is dominated by the service sector. It accounts for 4 in 5 of all businesses in the area and they in turn provide over 4 in 5 of the city's jobs. Only 8.4% of Milton Keynes' businesses are in the production sector, with these providing 1 in 10 (11%) of the city's jobs..
Table 4 - Establishments and Jobs by Sector
| Sector | Establishments | Jobs | ||
| July 2008 | July 2008 | |||
| No | % | No | % | |
| Agriculture | 136 | 1.8% | 417 | 0.3% |
| Construction | 601 | 7.7% | 4612 | 3.5% |
| Production | 660 | 8.4% | 14223 | 10.9% |
| Services | 6437 | 82.2 | 111518 | 85.3% |
| Total | 7834 | 100.0% | 130770 | 100% |
Source: Milton Keynes Economy and Learning Partnership 2007 Employment Survey.
Milton Keynes has seen a continuing long-term trend in the increasing employment within the service sector and a corresponding decline in the production sector:
- The service sector now accounts for 85.3% of the city's jobs, compared to 82% in 2003
- While the production sector accounts for 10.9% compared to 14% in 2003
Table 5 - % Jobs Increase by Sector
| Sector | Jobs | Jobs | Jobs | |||
| October 2007 | October 2005 | Change | ||||
| No | % | No | % | No | % | |
| Agriculture | 417 | 0.3% | 499 | 0.4% | -82 | -16.4% |
| Construction | 4612 | 3.5% | 4767 | 3.8% | -155 | -3.3% |
| Production | 14223 | 10.9% | 15114 | 12.0% | -891 | -5.9% |
| Services | 111518 | 85.3% | 105815 | 83.9% | +5703 | +5.4% |
| Total | 130770 | 100.0% | 126195 | 100.0% | +4575 | +3.6% |
Source: Milton Keynes Economy and Learning Partnership 2007 Employment Survey.
The above table provides a detailed comparison of the city's job profile between 2005 and 2007. It reconfirms the continuing trend of increasing employment within the service sector and a corresponding decline in the production sector (and in the agriculture and construction sectors):
- Between the two years there was a 5,700 increase (over 5%) in the number of service jobs in the city - increasing from 105,800 to 111,518, accounting for just under 84% of the city's jobs in 2005 to just over 85% in 2007
- The production sector lost 6% of its jobs (900) over the same period - from 15,100 to 14,223
This overall change is also true from the perspective of the number of employing establishments within the city and is shown in the table below.
Table 6 - % Establishments increase by Sector
| Sector | Establishments | Establishments | Establishments | |||
| October 2007 | October 2005 | Change | ||||
| No | % | No | % | No | % | |
| Agriculture | 136 | 1.8% | 141 | 1.9% | -5 | -4.3% |
| Construction | 601 | 7.7% | 598 | 8.0% | +3 | +0.5% |
| Production | 660 | 8.4% | 702 | 9.3% | -42 | -6.0% |
| Services | 6437 | 82.2% | 6075 | 80.8% | +262 | +6.0% |
| Total | 7834 | 100.0% | 7516 | 100.0% | +318 | +4.2% |
Source: Milton Keynes Economy and Learning Partnership 2007 Employment Survey.
Between 2005 and 2007:
- The production sector saw a 6% fall in the number of employing establishments, whilst;
- The service sector saw a 6% increase.
This confirms the continued long-term trend of:
- The increasing importance of the service sector. Between 1999 and 2007, thenumber of service sector businesses increased by a third (32%), with the number of jobs increasing by 26%.
- A declining production sector. Approaching 1 in 5 (23%) of production jobs were lost between 1999 and 2007. However the number of businesses did increase by 25% therefore over this 8 year period there has been a significant shift to smaller production businesses.
The table below identifies the industrial structure of Milton Keynes with the South East and Great Britain.
Table 7 - Industrial Structure Milton Keynes, South East, GB % Split
| Milton Keynes (July 2005) | South East (June 2005) | GB (June 2005) | |
| Agriculture | 0.4 | 1.2 | 0.9 |
| Construction | 3.7 | 4.1 | 4.5 |
| Production | 12.6 | 9.9 | 12.3 |
| Services | 83.3 | 84.9 | 82.3 |
| Total | 100 | 100 | 100 |
Source: Milton Keynes Council Population Bulletin 2005/6 and Nomis Data.
Note: 2005 Milton Keynes data is used above, as 2007 national and regional data is not available.
The above shows the industrial profile of Milton Keynes to be broadly comparable to that of both the South East and Great Britain.
- Agricultural employment is less prevelant in Milton Keynes, as is construction
- Compared to the South East, production employment is significantly higher in Milton Keynes
- Compared to the South East a slightly lower proportion of Milton Keynes' jobs are in the service sector, however the proportion is higher than that for Great Britain as a whole
- Over 45% of businesses have been established since 200010% of business were established before 1980, 40% of which were established before 1970
- 10% of Milton Keynes business have relocated from elsewhere, and a further 18% are a branch of an existing business
- 75% of existing establishments in Milton Keynes consider the city to be their UK headquarters
- 53% of people in employmeny in Milton Keynes were in managerial, professional or skilled occupations
- 72% of all businesses in Milton Keynes started up in the city
- 37% of Milton Keynes businesses are owned by a UK parent company
- Over 500 companies are overseas owned, representing 8% of the total companies in the city and 19% of jobs
Last updated Nov 08
