Job statistics show a strong economy and good signs for 2018
Recently-released job statistics '˜reflect the strength of the North East economy', the region's Chamber of Commerce has said.
The latest Labour Market Statistics were announced by the Office for National Statistics yesterday and made for encouraging reading.
Employment in the North East stands at 1.2million (72.6 per cent); an increase of 17,000 over the quarter and 28,000 over the year. This compares to a rate of 75.1 per cent nationally.
Unemployment in the region is 77,000 (5.9 per cent); unchanged over the last quarter and a fall of 7,000 over the year. This compares to 4.3 per cent nationally.
The claimant count stands at 54,100 (4.4 per cent) in the North East. The national rate is 2.3 per cent.
Paul Carbert, of the North East England Chamber of Commerce, said: “These statistics reflect the strength of the North East economy which in recent months has demonstrated real resilience and growth. Our employers continue to report strong sales and while uncertainty affects future confidence, there is still a very positive outlook for 2018.
“The figures continue the recent positive trend, particularly on employment where the rate has increased more than in any other region over the past year. Workforce jobs have increased by 34,000 over the past year, with a significant increase in the number of self-employment jobs.”