Employment trends remain positive
The number of people claiming Jobseeker’s Allowance in Chesterfield fell to 1,120 in December, the lowest figure recorded in the town during 2016.
Across the East Midlands, figures released by the Office for National Statistics this week told a similar story, with the number of people out of work in the three months to November down compared with the three months to August 2016.
According to the Office for National Statistics, despite improved Jobseeker’s Allowance claimant figures and a drop in the number of people unemployed, the number of people in work fell in the three months to November 2016 compared with the three months to August.
But the trend, as shown by the year-on-year and two-yearly figures continues to show more people in work.
Scott Knowles, Chief Executive at East Midlands Chamber, said:-
“This month’s figures are, once again, very positive and confirm the results of our Quarterly Economic Survey for the end of 2016 which is that the East Midlands continues to be a key driver of the economy. Despite the uncertainties of Brexit, and partly because of them, regional firms are continuing to create jobs and wealth.
“The lower value of the pound against the euro and the US dollar, in particular, has made UK-made goods and services cheaper overseas. Combined with a strong reputation for quality, this has led to increased international demand for the ‘Made in Britain’ brand and exporting companies have recruited to cope with demand.
“This has an impact all the way down the supply chain, creating jobs at all levels, which is good for the regional and national economy.”
But Scott warned that inflationary pressures, brought about as a consequence of higher-cost imports – the flip-side of a weaker pound – will eventually rebalance the books.
He added:-
“Higher prices in shops and at fuel pumps, which we’re already seeing, will lead to demands for wage increases which, when coupled with higher manufacturing costs, will put pressure on employers to raise prices or find other ways of making savings and we would be surprised if that didn’t lead to a drop in employment levels later in 2017.”
