News / Analysis
Youth unemployment remains high
Latest data from the Office for National Statistics (ONS) has shown that the South West has the lowest unemployment in the country with 7,000 more people in work in the three months to December, however the figures conceal a still-challenging youth job market.
South West unemployment now stands at 3.7 per cent, having fallen by 0.2 per cent, however youth unemployment is at a lofty 13.6 per cent.
Commenting on the labour market statistics, Phil Smith, Managing Director of Business West, said:
“The headlines back up these statistics. Retailer The Range has just announced a 1,000 job distribution centre ‘the size of 15 Wembley Stadiums’ in Avonmouth. And a few weeks ago we saw George Osborne in Bristol announcing the government’s contribution to the £38 million that Airbus is investing to develop its ‘wing of the future’. But these block figures can also hide key local challenges.
“Although unemployment is low, youth unemployment remains high and local businesses are still telling us that skills gaps are holding them back. Long term planning is needed from government, education providers and business to address this fundamental issue.
“The last couple of months have shown the South West economy is performing strongly, but there are still hurdles in the way of long term prosperity.”
Image – Shutterstock
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