UK Unemployment Falls to 2.56m - The Olympic Effect?

16th August 2012

Looking at the latest report by the BBC on unemployment levels in UK, you would be forgiven to think that this was the first sign of growth for our region.

The number of people out of work fell by 46,000 to 2.56 million in the three months to June, according to the Office for National Statistics. The unemployment rate fell to 8.0% in the period, down from 8.2% in the previous quarter. The Office for National Statistics also said number of people claiming Jobseeker's Allowance fell by 5,900 to 1.59 million in July. The number of people working part-time because they could not find a full-time job hit a record high.It was up 16,000 in the three months to June to 1.42 million, which was the highest figure since records began in 1992. (BBC News Website 15/8/2012) Unfortunately over the year the region with the largest rise in the unemployment rate was the Yorkshire and The Humber region with an increase of 1.2 percentage points The highest drop in unemployment was for the London area and we undoubtedly know the reason for this is because of the Olympics. Will this make for a huge drop in employment in the next quarter for London? Also are the figures being duped by Part time employment? On face value the unemployment figures for Yorkshire were disappointing and trailed the national picture however we do need to look behind them. As a Chamber we are very focused on building sustainable businesses which deliver full time sustainable jobs. I am worried that the national figures include too many part time jobs and too many youth unemployed. I don't want part time jobs that disappear after a short term activity like the Olympics, they are welcome but are not the ones that will deliver our economic recovery. As a Chamber we are trying to take a longer term view and work with partners across the city to build the right foundations for the future Richard Wright Executive Director Sheffield Chamber of Commerce and Industry

You might also be interested in

BCC Respond to New Trade Framework Deal with Indiana

Fri 27th May 2022

Reacting to news of the deal, William Bain, Head of Trade Policy at the BCC, said:

HMRC to close CHIEF: What does this mean for you?

Fri 6th May 2022

Last year HMRC announced that the Customs Handling of Import & Export Freight Computer system (CHIEF ) currently used to lodge import and export declarations will be fully replaced by a new system called the Customs Declaration Service (CDS) in 2023.

South Yorkshire Chambers Unite to Call for Mayor-led Transformation of Region's Skills Sector

Fri 29th April 2022

Business leaders from across South Yorkshire will join forces today (Friday) to call for the region’s new Mayor to urgently tackle skills shortages that are holding the region back.

Recruitment Difficulties Remain at Record Highs - Quarterly Recruitment Outlook

Thu 28th April 2022

Latest figures released today by the British Chambers of Commerce show the pressure on firms struggling to recruit staff remains at record high levels.