Craig Marlow, the managing director of local arcade The Retro Realm, believes the local economy is struggling because the town does not have the same draw as it used to.
“It’s a destinational thing – Walsall used to have a really good market, it was known all over the country, it was so strong,” he said.
“It makes me feel disheartened. Walsall is a really good community, but it’s slowly dying because the destination is gone.
“Everyone goes to Merry Hill or to Telford, everywhere except Walsall.” Mr Marlow added.
Despite the new figures, the council maintains the view that the borough is “full of potential”.
Councillor Adrian Andrew, Deputy Leader of Walsall Council, said: “We recognise the barriers we face – from lower business density to higher levels of economic inactivity.
“That’s why we’re investing in enterprise, skills, and regeneration to tackle these issues. Without these interventions, Walsall could be in a far worse position.”
Additional reporting by Rachel Alexander, Local Democracy Reporter