Chamber comment on employment stats
Date published:
Callum George, Policy Adviser at the North East England Chamber of Commerce, said:
The ONS employment figures released today show that employment in the UK is improving, but unfortunately this is not the case in the North East. This means that once again, gaps are widening.
Between August and October, the unemployment rate in the North East for those aged 16+ was 1% higher than the national average. Similarly, the economic inactivity rate for people aged 16-64 in the North East remained higher than the national average, by 3.7%. The North East’s employment rate for those aged 16-64 was 4.4% lower than the national average.
In the North East, the employment rate has worsened by 0.1% compared to May-July 2022. However, economic inactivity has improved by 0.1%. The unemployment rate has remained the same as May-July 2022, however when comparing it to last month’s figures, it has increased by 0.5%. This will be worth keeping an eye on as the recession deepens.
This data release in many ways carries more weight than previous months. It covers the span of Liz Truss’ premiership, and her fiscal statement that caused uncertainty for many sectors. We’ve also then seen Prime Minister Sunak take his post, at a time when the UK was entering a recession.
Today’s figures show that despite budgets being slim, the government must remain committed to Levelling Up in the North East, to help tackle regional differences. Businesses in the North East should be proud of the innovation and resilience they have shown so far in combatting COVID, and the cost-of-living crisis. As a Chamber, we will continue to work with our members and support them where we can.
Notes
Data published by the ONS shows between August and October 2022, the unemployment rate in the UK for ages 16+ was 3.7%. In the North East this was higher, at 4.7%.
The UK’s employment rate for ages 16-64 was 75.6%. In the North East this was lower, at 71.2%.
The UK’s economic inactivity rate for ages 16-64 was 21.5%. In the North East this was higher, at 25.2%.