Unemployment continues to fall

UNEMPLOYMENT in the region continued to fall last month, following the national trend.

Figures released today show that the North West had 152,400 Job Seekers Allowance claimants in November compared to 159,400 in October 2013, a 4.4% monthly decline or 7,000 less claimants.

In Greater Manchester there was a decrease of 3,800 to 65,400. As a proportion of the resident working age population, 3.7% of people in Greater Manchester were claiming JSA in November – higher than the North West (3.4%) and Great Britain (2.9%).

Encouragingly youth unemployment saw falls too, on a month-by-month and annual basis.

Regionally there was a 2,900 fall to 40,400 in the number of young people, aged 16 to 24 claiming JSA. On a year-on year basis there has been a 28% fall  to 56,100, compared with November 2012.

Nationally the figures also show that unemployment fell by 99,000 in the last three months, bringing the unemployment rate to 7.4%, the lowest since 2009.

 

Employment minister Esther McVey said: “It is really encouraging that we now have a record-breaking 30 million people in work, and more people in the North West are finding jobs. 

“It’s also welcome to see unemployment in the region falling by 29,000 this quarter, and while there’s still more to do the Government’s long-term economic plan is helping people move off benefits and into work.”

Baron Frankal, director of economic strategy at New Economy in Manchester, said: “We’re always encouraged by news that jobseeker numbers are continuing to fall.  However, we should bear in mind the familiar pattern at this time of year, which will in all likelihood see an increase in the first quarter of 2014, as temporary seasonal jobs come to an end.  

“Early in the New Year, we also expect to see what impact the newly-implemented Universal Credit system has had on JSA claimants.  It’s almost certain that it will have absorbed some of those claimants that would otherwise be recorded – but it remains to be seen exactly how many.  

“A key point is that employment is not yet back at its pre-recession level, so even though the labour market is showing signs of recovery we need to ensure that sufficient opportunities are created in Greater Manchester to drive down unemployment on a sustained basis.”