New figures suggest joblessness across the East Midlands remained unchanged at 3.5 per cent in the three months to February.
Data from the Office for National Statistics suggests the region was doing better than the national average which, it said, stood at 3.8 per cent. At the same time there was a slight fall in the number of people who have dropped out of the region’s labour market for reasons such as retirement, caring duties, long-term ill health or studying.
East Midlands Chamber chief executive Scott Knowles said the consistently low unemployment rate demonstrates the resilience of the East Midlands business community in protecting jobs despite the upheaval and cost pressures of the past year. But he said the Government should still be doing more to help people into work and help industry retain and train up staff.
He said: “The chamber’s latest research suggests there is further optimism for what lies ahead, with our Quarterly Economic Survey for Q1 2023 showing a 7 per cent net increase in the proportion of our region’s firms that have grown their workforce in the past three months, along with a 14 per cent net increase in those that expect to add to headcount in the next three months.
“However, there is still a long way to go and this must start with tackling the economic inactivity problem that, despite a very slight decline in the latest data, continues to be a thorn in the sides of many employers.“There are many reasons for this, including long-term sickness, increased caring responsibilities and early retirement.
“While the Chancellor rightly identified rising economic inactivity as an economic priority in last month’s Spring Budget, the measures could have gone further and quicker.
“It is never too late to make significant interventions, though, and in our Business Manifesto for Growth, we have set out a list of policies we believe will make the required difference.
“These include introducing flexible incentives for businesses that invest in staff training and bringing forward the introduction of the Lifelong Loan Entitlement to support retraining and the retainment of an older workforce.
“We must also tailor policies to recognise the diversity of people who are out of work and avoid a one-size-fits-all solution, while we would also like to see Government work with businesses to offer support and share best practice on what a flexible and inclusive workplace looks like as this is another vital ingredient in enticing people back to work.”
