North East LEP reacts to ONS labour market statistics

The Office for National Statistics (ONS) has today (March 19) released its overview of the UK labour market.

Their research indicates that the percentage of people in work has never been higher and the percentage of those out of work has not been lower since 1975.

From November 2018 to January 2019, the UK employment rate was estimated at 76.1%, the highest on record.

Victoria Sutherland, senior economist at the North East Local Enterprise Partnership (LEP), gave her reaction.

“We are pleased to see today’s statistics have positive news for the North East.

“Across the region, employment has increased by 7,000 over the quarter. Unemployment has fallen by 4,000 over the same period. This decline means the unemployment rate is now 5.1%, compared to 5.4% three months ago.

“Today’s statistics are particularly welcome as they suggest that the increases in unemployment and decreases in employment we saw in mid-2018 are being reversed.

“Whilst these are positive results, there continues to be significant uncertainty in the economy making planning for the future challenging for businesses.”

The North East LEP will continue to work with its partners to support businesses to grow and deliver more and better jobs for the region.

More information, data and analysis about the UK labour market can be found the ONS website here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/march2019