Big-ticket projects could cut unemployment, says report

MAJOR development projects in Greater Manchester should generate substantial employment opportunities, according to a survey by New Economy – the economic research body funded by Manchester City Council.

The organisation said the March 2012 edition of its Manchester Monitor said the new £100m Greater Manchester investment fund and a series of new development projects in places like Manchester, Rochdale and Stockport will help to create up to 57,000 new jobs by 2015.

Dr Alexander Roy, Head of Research at New Economy, said: “In mid-February the Bank of England forecast that the economy would “zigzag” in and out of periods of growth throughout 2012 and the key issues to tackle during these periods are unemployment and sustainable future growth.

“There remains the risk that if companies do not see the economy picking up the pace of job losses will accelerate, driving unemployment towards levels seen in previous recessions. This threat makes it all the more important that new developments to create employment, and initiatives to support the unemployed back into work, such as the Work Programme, are successful.”