Introduction
In October 2023, the
Strategy for Sustainable Economic Development was published. It set out the long-term challenges that economies around the world are facing, including Jersey. These challenges include a shifting demographic, alongside slowing and declining productivity.
Recognising these challenges, the strategy was a call to action to think about the future and start making changes now that will improve our economic and social well-being by 2040. One of the aims of the Future Economy Programme is to increase economic awareness and to encourage discussion about both the problems we face, and the opportunities.
It is with this in mind that this page has been developed. Guest writers have written the thought pieces, to champion the importance of future thinking for our economy, and spark debate and conversation on the opportunities ahead. This page also contains internally authored economic blogs on different topics, from inflation to population and the role of competition.
The views and opinions expressed are those of the author and do not necessarily represent the views of government or its associated entities.
Creative destruction – a force to be embraced and preserved?
Productivity growth at the level of a firm is quite easy to understand. At its simplest, it means a firm finding ways to produce more value with the same or less inputs. But exactly how the actions of individual firms build up to deliver productivity growth at the level of the economy is more difficult to imagine.
Creative destruction – a force to be embraced and preserved?
Population and Employment – What does the data tell us?
For a small island, we are lucky enough to be relatively data rich. We have a lot of data, and Statistics Jersey has a programme of work which is delivering more data, different data and better data. This creates a challenge for the economics unit as we look to use this information to understand the story it is telling us about the economy of Jersey. This month’s note looks at the data we have on population, employment and jobs, and the narrative that this data collectively tells us.
Population and Employment – What does the data tell us?
Jersey’s Economy: 2022
What happened to Jersey’s economy in 2022? One area did exceptionally, while others did not. Jersey’s Economic Advisory Team explain in their monthly blog.
Jersey’s Economy: 2022
Jersey’s Future Economy – The Only Way is Digital
Dame Wendy Hall, Regius Professor of Computer Science at the University of Southampton and Non-Executive Director for Digital Jersey, wrote this guest blog on the potential of Jersey's digital future.
Jersey’s Future Economy – The Only Way is Digital
The Prospects for Growth
The International Monetary Fund and OECD have forecast the future economy – what do they mean for Jersey?
The Prospects for Growth
Competition and Productivity
How can competition help Jersey become more productive? In a guest blog, Sarah Price, the JCRA’s Chief Operating Officer, explains.
Competition and Productivity
Cost of Living focus: Your FAQs answered on inflation and rising costs
What’s the difference between cost of living and inflation? The cost of living refers to the amount of money required to sustain a certain standard of living, including expenses such as housing, food, transportation, and healthcare. It varies depending on location, lifestyle, and individual preferences. While the cost of living considers specific expenses, inflation reflects the overall rise in prices across the economy over time.
Cost of Living focus: Your FAQs answered on inflation and rising costs
Population and Economic Growth
This month’s economic note considers the link between population and economic growth in a Jersey context.
Economic Notes: July
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