Saturday, 15 December 2012

Good News on Employment

Good news for North East this week. 

Britain recorded its sharpest quarterly drop in unemployment for more than a decade. The regions with the largest decrease in the unemployment rate on the previous period were Yorkshire and The Humber at 1.1 percentage points followed by the North East and Wales both at 0.9 percentage points. 
The long term trend is even better as over the whole year the region with the largest change in the unemployment rate was the North East with a decrease of 2.2 percentage points. Wales was next with a decrease of 1.2 percentage points.

The figures show that strong jobs growth by private companies is more than offsetting reductions in the public sector. Employment in the public sector has fallen by 24,000 but this has been outstripped by a 65,000 person increase in private sector employment.
Overall figures from the ONS show that employment was 499,000 higher in the three months to October 2012, at a total of 29.6 million – which means there are more people with jobs now than ever before.

The figures also show that the number of people claiming Jobseeker’s Allowance has fallen by 3,000 and stands at 1.58million.