NOTTINGHAM is one of 11 cities that provide a third of the country's private sector jobs, a study has revealed.
This is despite a decrease in the city's employment rate of nearly two per cent.
Research group Centre for Cities has published the figures in a report released today called Cities Outlook: 2011.
The report shows the economy has "bounced back strongly over the course of 2010" across the UK.
Chief executive of Centre for Cities Alexandra Jones said cities like Nottingham – with a high level of private sector jobs – should be given new financial freedom and new powers to raise money.
"Buoyant cities which have been fast-growing and have lots of private sector jobs are best placed to lead the UK's recovery," she said.
"It's time these places had new financial freedoms such as full control over the local business rate, and new powers to raise money. They could also benefit from having London-style mayors.
"During 2011, the UK cities most dependent on the public sector – which have seen slower economic growth over the last decade – will find it more difficult to rebalance towards the private sector.
"These cities will need plans of action to ride out the spending cuts and create jobs – but they will also need additional financial support from central Government."
Despite being high on the list for providing private sector jobs, the employment rate in Nottingham dropped by 1.9 per cent from June 2009 to June 2010, with 65.3 per cent of the working age population now employed. It is five per cent behind the national figure and is ranked 11th worst in the country.
Baroness Margaret Eaton, chairman of the Local Government Association, said decisions on how to go about creating more jobs should be made by city and county councils.
"Councils recognise the need to support private sector growth and job creation, particularly for young people.
"Decisions on how to go about that are best made at a local level, where councils can identify need and find solutions.
"While councils have been given more freedom to respond to economic issues, they also have less money, meaning they have to be more selective in how they invest in local regeneration and growth."
Despite the decrease in employment in Nottingham, the number of people claiming Jobseekers' Allowance has fallen by 0.5 per cent.
The report also reveals that Nottingham shows promise for the future with a higher percentage of people with formal qualifications.
Compared to last year, the city has seen an increase in the number of people who have an NVQ4+, with 25.5 per cent of the working age population now holding the qualification.
The percentage of the working age population with no formal qualifications has also decreased.
But with 12.8 per cent of city residents without any formal qualifications it is still 4.9 per cent above the national figure.
To view the report visit www.centreforcities.org/outlook11
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