Priority 1: Increasing economic prosperity
A resilient economy, but growth isn't reaching everyone yet
Coventry's economy held up well this year. Fewer businesses closed than last year, and those that opened are more likely to survive their first 12 months. The visitor economy passed £923 million – a third consecutive record year – and the city centre earned its first Purple Flag award for being a safe, vibrant place to spend an evening.
The picture is less positive on jobs. Unemployment has climbed to 7.1%, well above the England average of 4.5%, and the resident employment rate has fallen. This mirrors national economic pressure, but it's the area where residents will feel the least progress.
Job Shop – Jannat's story
Jannat moved to Coventry with 2 master's degrees in finance and struggled to translate that into a UK role. Support from the Job Shop – CV coaching, mock interviews and local connections – led to her first UK job as a Learning Support Assistant, with a longer-term goal of moving into teaching.
Key figures
|
Indicator |
This year vs last year |
Status |
|---|---|---|
|
Businesses closed |
1,885 → 1,370 |
On target |
|
New business survival (12 months) |
88.4% → 89.3% |
On target |
|
Unemployment |
4.8% → 7.1% |
Off target |
|
New homes with planning permission (10yr) |
11,800 |
On target |
In simple terms: the city's businesses and visitor economy are getting stronger, but that hasn't yet translated into enough new local jobs.
Full detail (all indicators for this priority, with regional comparisons) is in the full One Coventry Plan annual performance report (April 2025 to March 2026) report.