The East of England has been thriving recently with business success and this is reflecting in the employment rates across the region. Sectors such as manufacturing, finance and other markets are continuing to have one of the lowest rates of unemployment in the country.
Our regional workforce is working some of the lengthiest hours in a progressively larger jobs market.
The Office for National Statistics (ONS) states that the East of England’s employment rate is second highest just behind the South West’s at 78.7%. It is also moderately above the national average, which is 75.7%.
Rates of unemployment in the East have been falling steadily in 2018 with the March to May rate sitting at 3.5%. This is only 0.3% lower than the period between December 2017 and February 2018, supporting the notion that these rates have stayed relatively stable in the recent past.
Generally, this region has had a growth in employment over the period of March 2017 and March 2018, with an additional 15,000 jobs being offered to East of England’s employees.
Jobcentre Plus’ district manager for East Anglia, Julia Nix states:
“The jobs we see coming up around this time of year are mainly in the hospitality industry. I think the weather has helped with this, because people are staying at home and heading to the coast instead of going abroad. We’re also seeing new store openings like KFC and Tesco who want a lot of staff.”
As a consequence, the amount of applications for Jobseeker’s Allowance and Universal Credit has fallen by nearly 600 since last month.
This steady nature of employment across the East of England has correlated with how wages are increasing in line with the rate of inflation.
Ms Nix continues:
“The East of England has seen a rise in wages against employment, and I think that’s down to more employers wanting to pay their staff the living wage. We’re seeing growth, and companies want to pass that onto their staff.”