Yorkshire experiences rise in employment and business activity

Employment in the Yorkshire and Humber region has increased for the first time in eight months during September.

This rise came as business activity continued to recover from a fall in the immediate aftermath of the EU Referendum, according to the latest Lloyds Bank Regional PMI report.

While job creation was slower than the UK average, business activity in the region rose at the fastest rate since November 2015.

The increase in activity was helped by a rise in new business, which companies linked to greater domestic and international demand.

Yorkshire & Humber’s PMI registered 55.6 in September, up from 54.1 in August, signalling a rise in activity that was faster than the UK average.

The Lloyds Bank Regional PMI, or purchasing managers’ index, is is based on responses from manufacturers and services businesses about the value of goods and services produced during September compared with a month earlier.

Leigh Taylor, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “The latest survey data suggested the upturn in the Yorkshire & Humber region continued to gain momentum this September, as both activity and new orders rose at sharper rates.

“Stronger growth in the region encouraged firms to take on additional workers for the first time since the start of 2016, though the rate of job creation lagged behind the UK average.”