Member Article

North East employment up 13,000 for the quarter

Employment in the North East stands at 1,146,000 or 69.4%, a rise of 13,000 over the quarter and increase of 26,000 over the year. This compares to a rate of 73% nationally.

North East unemployment stands at 116,000 or 9.2% – a fall of 9,000 over the quarter and 12,000 over the year. This compares to a rate of 6% nationally.

Moreover, the claimant count stands at 54,500 or 4.5% in the North East, compared to 2.9% nationally.

NECC Policy and Research Manager, Mark Stephenson, said: “December’s labour market figures are a strong finish to a positive year, with every indicator heading in the right direction.

“Both the North East unemployment and employment rates have decreased faster or as fast as any other region and we once again can boast that we have record numbers in employment which is great news.

“Recent ONS figures also show the North East economy grew ahead of the national average during 2013 and we are increasing our rate of export faster than any other region therefore all signs point to a confident and active private sector.

“Nevertheless, our unemployment rate remains snagged above 9% and it appears that changing this in a meaningful way will require a determined effort.

“The NECC Quarterly Economic Survey for Q4 2014, released next month, is also a positive sign of things to come with businesses recovering some of the bullishness we witnessed earlier in the year.

“It is important that we do not lose focus on the unemployment rate which is unacceptably high. Policy makers must not forget the 116,000 people of working age currently unemployed and a renewed focus must be placed on addressing this.

“Once again the regional claimant count and national jobs figures remain buoyant even if momentum towards the end of the year is slowing.”