Business News


Paul Faulkner: Mixed picture


Jobs stats offer a mixed picture


A record high employment rate in the West Midlands has been welcomed by the Chamber, but concerns surround an increase in the number of people out of work. Between October and December


2019, the employment rate in the West Midlands was 75.5 per cent, a record high for the region, according to the Office of National Statistics (ONS). Inactivity in the West Midlands


also fell to a record low, declining by 0.7 per cent to 20.9 per cent. However, the unemployment rate


in the region increased by 0.3 per cent to 4.4 per cent. West Midlands employment


figures echo national employment rates, which also recorded a record employment rate of 76.5 per cent. The ONS say that the record high


national employment rate was boosted by a rise in the number of women in full-time work. Chamber chief executive Paul


Faulkner said: “It’s great to see the proportion of West Midlands residents accessing work reaching yet another record high. “It’s particularly encouraging to


see a boost in the number of women entering and re-entering the workforce across the country. “As International Women’s Day


approaches, we’ll be exploring how businesses of all sizes can better support their pipeline of female talent into senior level positions as part of our upcoming ‘Growth


Through People’ campaign (see pages 6/7). “However, the unemployment


rate in the West Midlands remains high, and this latest increase warrants concern. Tackling high unemployment and how we can better support local residents into meaningful jobs will be key topics for debate during the West Midlands mayoral election in May.


‘We’ll be exploring how businesses of all sizes can better support their pipeline of female talent’


“We will shortly be publishing a


manifesto setting out what the Chambers in the region would like to see from the successful mayoral candidate, so that businesses are able to access the skilled talent they need to grow and reach their full potential. “In our conversations with the


mayoral candidates, as well as other local and national stakeholders, we will be highlighting business concerns on key indicators including price pressures and recruitment difficulties, as reflected in our Quarterly Business Report. To ensure your concerns are heard, I encourage readers to take five minutes to complete the survey.”


March 2020 CHAMBERLINK 25


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