East Midlands Bucks National Employment Trend
The East Midlands bucked the national trend in terms of employment and unemployment in the three months to May, according to figures released this morning.
The latest official employment data from the Office for National Statistics showed that there were 9,013 more people (aged 16-64) in work and 1,280 fewer people out of work between March and May than there were in the three months to February, equating to an annual employment increase of 18,234 and an annual fall in unemployment of 17,988.
Nationally, there were 67,000 fewer people in work and 15,000 more people unemployed between March and May than there were in the previous three month period, although annually, the number of people in employment increased by 265,000 and the number of those unemployed fell by 273,000.
The number of people claiming Jobseekers’ Allowance (JSA) in Chesterfield fell again in June to 1193, meaning there were 500 fewer claimants than there were in June 2014.
Chris Hobson, Director of Policy at East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire), said: “The latest employment figures are once again positive and provide further evidence of just how strong the economy is here in the East Midlands.
“Over the past 12 months, this region has created jobs at a faster rate than anywhere else in the UK, providing much of the fuel to fire the ‘Midlands Engine for Growth’. It strengthens our message to Government that the East Midlands holds the key to the UK’s long-term economic success.
“Separate figures out this week showed average wage growth of 3.2% in the three months to May, while CPI inflation has dropped back to zero, meaning that not only are more people in work, but their wages are going further. The Government’s renewed focus on boosting productivity will further support and sustain both business growth and increased levels of pay.
“However, improving the skills of employees remains a key issue for business and needs to be tackled at the same time as widening the talent pool of young people coming into the sectors in which we have real strengths, to ensure that the momentum the regional economy has built up over the past 18 months is sustainable.”
