Local Economic Conditions

Labour Market Information and Analysis

The Buckinghamshire Economic Observatory has released a detailed analysis of the county’s labour market, offering valuable insights for business leaders and workforce planners.

The report covers key indicators such as employment trends, training outcomes, and skills shortages, providing an evidence-based foundation for strategic decision-making. Headline insights include notable shifts in employment and claimant activity, particularly within the hospitality sector.

Read our overview of this report to learn more about local labour market conditions and opportunities for your business to expand and develop the skills of your workforce.

Job losses see hospitality sector take a hit

Recent analysis by UK Hospitality, using Office for National Statistics (ONS) data, reveals that the hospitality sector - which encompasses restaurants, bars, pubs, and hotels - has experienced significant job losses, accounting for nearly half of all employment reductions across the UK since October 2024.

Applying this trend to Buckinghamshire, an estimated 1,523 payrolled jobs (across all sectors) have been lost since the Autumn 2024 Budget, representing a 0.58% decline - which is slightly above the national average of 0.54%.

While sector-specific data is unavailable, assuming a similar pattern to national figures suggests that up to 819 hospitality roles may have been affected locally. Given Buckinghamshire’s higher-than-average concentration of hospitality employment, this figure could be even greater.

	UK	Buckinghamshire
Net change in payrolled employees, Oct 2024 - July 2025	-164,641	-1,523
% change in payrolled employees, Oct 2024 - July 2025	-0.54%	-0.58%

Source: ONS, Pay As You Earn Real Time Information (seasonally adjusted) 

Benefit Claimant Count Data 

As of July 2025, 11,065 Buckinghamshire residents were claiming benefits due to unemployment or earning below the Administrative Earnings Threshold (AET), equivalent to working fewer than 18 hours per week at the National Living Wage. This figure represents 3.2% of the working-age population, slightly above the regional average (3.1%), but below the national rate (4.1%). 

Historically, Buckinghamshire has maintained a lower claimant rate than the regional average. However, the Wycombe parliamentary constituency currently exceeds the national benchmark, indicating a localised area of concern. 

For further insights on the claimant count, visit the Buckinghamshire Economic Intelligence Observatory.

Public Procurement: Growing British Industry, Jobs and Skills – BBF Consultation Response 

The UK Government is consulting on reforms to public procurement aimed at strengthening domestic industry, employment, and skills development. Buckinghamshire Business First is preparing a response informed by a local business survey. Key themes emerging from the consultation include: 

Simplification and Standardisation 

• Key challenges include public sector tenders being overly complex, inconsistent, and time-consuming. 
• Suggested improvements include streamlining documentation, reducing repetitive questions, and using a single digital portal with clear guidance to make bidding more accessible, especially for SMEs. 

SME Inclusion and Fairness 

• Widespread agreement on the policy to reserve smaller contracts specifically for SMEs. 
• Preference for UK-only companies that contribute more to UK tax revenue, highlighting concerns about global firms using tax loopholes. 

Transparency and Integrity 

• There were concerns regarding companies winning bids with low prices and then increasing costs during delivery.  
• Others felt that submitting bids isn’t worth their time, due to local authorities preferring incumbent suppliers.  
• There was a call to simplify the policy requirements (e.g., Anti-Slavery, Employment of reformed offenders) to ease participation. 

Profitability and Relevance 

• Emphasis on agreed profitability margins to ensure sustainability, and encourage businesses to participate. 

Overall, while there was an acknowledgement that current models may not suit all businesses, and some businesses are not in sectors suited to supplying the public sector, businesses were still interested in exploring opportunities for working with the public sector in future. 

Business Needs and Concerns

With businesses continuing to reach out to Buckinghamshire Business First for support throughout August, the most commonly-raised themes included:

• Growth (21%)
• Finance (10%)
• Skills / Training / Recruitment (10%)

Several businesses also completed the Your Business Questions Answered survey, which helps tailor one-to-one advice sessions. Common priorities identified included: boosting productivity, navigating marketing challenges, planning for growth, managing rising costs, workforce development, leadership capacity, innovation, sustainability, and rural business support.

Have a question for our Business Support Team?

If your business is facing similar challenges, or anything else, and you're looking for relevant advice, please contact our team of experienced Business Advisers, by:

• Filling out this quick online form
• Emailing [email protected]
• Calling 01494 927130

Want more research and analysis on Buckinghamshire's economy?

Visit our dedicated Reports and Analysis webpages for the latest insights on the Buckinghamshire economy and workforce, and the effect of policy decisions on our local business community.

Buckinghamshire Business First is the primary source of insights from the business coalface. This intelligence is used to ensure strategies and policies are based on robust evidence and to ensure government at all levels is aware of the economic issues facing Buckinghamshire’s communities.