Lancashire excels in new Employee Location Research

Lancashire has emerged as a leading region for workers and job-seekers in the UK, with both Preston and Blackburn with Darwen securing top positions in the Employee Location Index 2024 released by PayrollPrices.com. This comprehensive study ranks 80 UK towns and cities based on various factors that significantly impact the quality of life and employment opportunities for residents. The success of these two Lancashire cities underscores the region’s growing appeal as a prime destination for employment and investment.

Preston’s Strong Performance

Preston has claimed the 5th spot in the index, demonstrating its exceptional ability to provide a balanced and fulfilling environment for its residents. Key factors contributing to Preston’s high ranking include:

• Affordable Living: With a median salary of £26,752 and median rent at 16.78% of salary, Preston offers a cost-effective living environment. This affordability allows residents to enjoy a higher standard of living without the financial strain found in many other cities.
• Work-Life Balance: Preston boasts a median commute time of just 18.15 minutes and a median workweek of 37 hours. This combination ensures that residents have ample time for personal pursuits and family life, contributing to overall well-being.
• High Satisfaction: Preston scores 7.79 in happiness and 7.38 in life satisfaction, reflecting a content and engaged community. These high scores are indicative of a supportive and enriching living environment.

Blackburn with Darwen’s Impressive Showing

Not far behind Preston, Blackburn with Darwen ranks 13th in the index, further highlighting Lancashire’s strength as a top region for employment and quality of life. The city excels in several areas:

• Vibrant Job Market: With 1,591.29 job vacancies per 10,000 people, Blackburn with Darwen boasts a robust job market, providing ample opportunities for job-seekers and contributing to the city’s economic vitality.
• Competitive Salaries and Low Rent: The median salary in Blackburn with Darwen is £25,476, and the rent as a percentage of salary stands at 17.33%. This balance ensures that residents can enjoy a comfortable lifestyle without excessive financial burden.
• Satisfaction and Commute: The city scores 7.43 in happiness and 7.24 in life satisfaction, with a median commute time of 18 minutes, ensuring that residents can maintain a healthy work-life balance.

The Lancashire Advantage

Lancashire’s success in the PayrollPrices.com research can be attributed to several overarching factors that make the region attractive for both employees and employers:

• Economic Opportunities: The region’s dynamic job market, evidenced by the high number of vacancies in both Preston and Blackburn with Darwen, provides significant opportunities for career advancement and business growth.
• Affordable Living: Both cities offer competitive salaries coupled with reasonable living costs, making Lancashire an appealing destination for those seeking financial stability and a high quality of life.
• Quality of Life: High scores in happiness and life satisfaction reflect the strong community spirit, excellent amenities, and overall living conditions in Lancashire.

Investment and Business Development

For employers and investors, Lancashire represents a fertile ground for business development and expansion. The region’s combination of affordable living, strong economic opportunities, and high quality of life makes it an ideal location for attracting and retaining talent.

Mark Whittle, Director of Membership for North & Western Lancashire Chamber of Commerce and BID Manager, said:

“It’s pleasing to see that Preston is riding high in the list of ‘Best Towns and Cities’ as a result of the strong combination of job opportunities and quality of life, which are vital attributes. Preston is a friendly and welcoming city, that offers positive opportunities for all, whether that be through employment, investment, as a place to live, or simply as a visitor.”

Trajectory of Success

Lancashire’s impressive performance in the Employee Location Index 2024 highlights its strengths as a region that supports both economic growth and quality of life. With top rankings for Preston and Blackburn with Darwen, Lancashire is well-positioned to attract further investment and continue its trajectory of success. The region’s commitment to affordability, job opportunities, and resident satisfaction makes it a prime destination for workers, job-seekers, and businesses alike.

About PayrollPrices.com

PayrollPrices.com is dedicated to simplifying payroll solutions for businesses of all sizes. Its comprehensive network connects businesses with trusted providers, offering unbiased comparisons tailored to unique needs and budget.

For more information about the research and other resources, visit https://www.payrollprices.com/en/employee-location-index/