Member Article

Employment: regional figures show more needs to be done

Employment statistics released today show more needs to be done to boost jobs in the North East, according to Tees Valley-based chartered accountants and business advisers Waltons Clark Whitehill.

Despite a welcome fall in the national level of unemployment to 7.6%, Heather O’Driscoll, Managing Partner at Waltons Clark Whitehill, said: “The regional breakdown of statistics show the North East as continuing to have the highest levels of unemployment in Britain at 10.2%.

“As with many national statistics, for example house prices, the regional figures show a very different story here than the overall picture being painted. This not only needs to be recognised for the sake of job seekers in the North East, but because these national figures can play a major part in shaping Government policy.

“Bank of England Governor Mark Carney has stated that changes to interest rates will be considered once more when unemployment reaches 7%, but the North East might still be almost 3% higher, so this must be borne in mind by the Bank. In the East of England, where the current level is 5.8%, a 7% national figure might mean 5% unemployment, so while clearly it is good news that employment statistics are improving, regional variations need to be carefully considered.”

This was posted in Bdaily's Members' News section by Waltons .