MORE than 100,000 new jobs will be created in four key sectors of the Liverpool city region economy over the next decade, the region's latest economic review predicts.

Growing levels of wealth in the region, improvement in educational attainment, and rises in levels of business start ups, are revealed in the report.

The report warns that huge numbers of public sector job losses are yet to filter through into the region's £19.8bn annual economy, and its authors state that a further 14,700 businesses are needed to bring the region up to national levels.

The Mersey Partnership (TMP), which compiled the latest economic review, reiterates its belief that the 128,000 jobs will be created in four transformational areas: low carbon economy, SuperPort, visitor economy, and the knowledge economy.

Lorraine Rogers, TMP chief executive, said: "We forecast the potential to create over 128,000 jobs in the next 10 years.

"This compares to 50,600 new jobs created (net) in Liverpool city region from 1999 to 2008.

"TMP is not saying that these four areas are the only answer; other sectors are important too, as are major regeneration projects and initiatives to support SMEs – but history suggests that we will not create the step changes and accelerate growth through a broad based approach. Focus is required. The prize is enormous."

TMP is also today launching detailed action plans for how it believes 128,000 jobs can be created in those four key sectors.

The plans have been prepared by private sector led committees supported by other experts and facilitated by TMP.

The latest economic data for the region is mostly positive, according to the economic review.

The latest Gross Value Added (GVA), a national measure of economic output, shows that in the decade to 2008 the Liverpool region grew faster than anywhere else in the North West.