Economic
Economic well-being is about ensuring people have educational opportunities, employment and a decent income. It is also about supporting businesses and enabling opportunities for innovation and entrepreneurship.
A thriving economy is one in which unemployment is low, incomes are relatively high and evenly distributed, and people are well educated. Entrepreneurship and innovation are important for economic growth and for sustaining a dynamic economy. These all contribute to the well-being of people. When people are in employment, when the economy is thriving, and people have money to buy goods and services, their well-being improves.
Between 2001 and 2008 all but three indicators increased, particularly in employment and incomes - largely generated by the growth in the public sector during this time. Since 2008, unemployment rates have increased and there have been decreases in the value of building consents and business start-ups as a percent of business turnover.
Measurable Outcomes
Prosperous Community
All members of our community prosper from a strong and growing economy. A thriving business sector attracts and retains a skilled and productive workforce.
Entrepreneurial & Innovative
Innovation, creativity and new endeavours are welcomed and encouraged. Ideas are exchanged across all sectors, resulting in a creative business culture. We have excellent education and research institutions, and benefit from being the seat of government.
Economic well-being GPI, 2001-2010
What this means
Overall, the economic well-being GPI increased from 2001 to 2008, suggesting that the region prospered from a strong entrepreneurial and innovative economy and an improvement in economic prosperity. Since 2008, the economic well-being GPI has decreased, which is consistent with the general economic contraction associated with the fall-out from the global financial crisis and, in particular, the reduction in income and employment growth in both the public and private sectors.
Did you know?
Using GDP, smoking has traditionally been counted as a benefit to the economy. With a GPI, smoking is regarded as a cost
