The latest employment data published nationally yesterday showed an increase of 19,200 residents in employment across the Liverpool City Region compared to the same period last year.
This rate of employment growth is significantly faster than both the North West and National levels. Continuing this growth is a key objective for both the Combined Authority and Liverpool City Region Local Enterprise Partnership (LEP).
However, the region still has a higher level of unemployment (4.8%) than the rest of England (4.3%) – but that gap is closing.
Liverpool City Region LEP Chair, Asif Hamid MBE, said: “This outstanding rate of growth marks a significant milestone in the development of the city region and speaks volumes about the increasing vibrancy of our economy.
“More and better jobs are a key priority of the City Region’s Growth Strategy which we set out to achieve through public and private sector collaboration and a clear focus on our competitive sector strengths, assets, talent and place. Through this focus and our increasing collaboration, we are seeing the creation of an exciting platform for accelerated growth and investment in our city region.
“There is still a great deal to be done but we are now closing in on the national average and we are clear in our determined collective drive to develop the economy further to create thousands more jobs and successful businesses.”
Liverpool City Region Metro Mayor, Steve Rotheram, said:
“Obviously I welcome any good news relating to employment figures. The fact that local statistics buck the national trend is a source of pride for me as the city region’s Metro Mayor and demonstrates the progress that we are making.
However we know that nationally, the UK faces problems around low productivity, falling living standards and insecure work. Through devolution we are seeking to do things differently in our area, by creating a high-productivity, high skill and high wage economy. I believe in inclusive economic growth – in which everyone living here can prosper.”
The significant statistics are:
- Over the year to March 2018 the number of people in employment in the city region increased by 19,200
- Growth in the number of people in employment in the city region has, on average, increased at a faster rate than nationally or across the North West over the last year
- 56.1% of individuals aged 16+ in the city region were in employment in the year to March 2018 compared to 54.7% in the previous year
- The employment rate in the city region is at its highest rate in current records (data goes to back to March 2005)
- The number of people classed as economically inactive in the city region has fallen at a faster rate nationally or across the North West over the last year