Tees Valley Mayor praises region's 'lowest' unemployment figures since 2010

Today (August 14), Tees Valley Mayor, Ben Houchen has approved of figures that show regional unemployment is at a record low.

Today’s ONS Labour Force Survey shows 54,000 people across the North East are out of work, with an unemployment rate of 4.3 per cent, falling by 9,000 on the past quarter, and 66,000 since 2010.

Across the UK, unemployment has fallen by 65,000 in the past quarter, to 1.36m, the lowest since 1975.

In the past three months, the number of residents claiming unemployment benefits has dropped by nine per cent, compared to a two per cent drop nationally.

Mayor Houchen commented on the findings: “Since 2010, three quarters of new jobs created have been full-time, and more full-time jobs mean more people have the security of a pay packet at the end of each month.

“These numbers are extremely heartening and demonstrate the commitment our local businesses have to investment, growth and job creation.

“This is also good news for the thousands of young people across our region who’ll be getting their A level results this week. It shows they don’t need to leave the region for job security and that we’re building a future where they can succeed in high-quality roles for life.

“While there are more jobs available, it’s even more impowrtant local people fill them. That’s why we’re investing in home-grown talent, equipping local people with the right skills for the jobs that are being created, rather letting companies rely on cheap imported labour.”

Since 2017, the Tees Valley Combined Authority has invested £54m, supporting the creation of 4,000 jobs. In 2018/19 there are plans to double this investment to £104m.

Wages, excluding bonuses, across the UK grew by 2.7 per cent in the three months to June, compared with a year ago - higher than the official inflation rate of 2.4 per cent.

The average advertised wage in the Tees Valley stood at £28,800, a rise of 4.7 per cent over the last year.