North East unemployment rate at historic low

Tees Valley Mayor Ben Houchen has welcomed the release of the latest job figures that show unemployment in the North East has remained at its lowest level in decades.

Figures released by the Office of National Statistics (ONS) revealed that for the second quarter in a row, unemployment in the region now stands at 4.8% - with a fall of 2,000 from the previous quarter. In London, the unemployment rate is 5.1%.

Since 2010 the number of people unemployment in the region has halved from 119,000 to 61,000 today.

Responding to the latest unemployment figures, Mayor Houchen said:

“These positive job figures are testament to the hard work and dedication of businesses that are busy investing and growing. Since 2010, three quarters of new jobs have been full-time, and more full-time jobs mean more people have the security of a pay packet at the end of each month. This can only be good news!

“While there are more jobs, it’s even more important local people fill them. That’s why we’re investing in home-grown talent, equipping local people with the right skills for the jobs that are being created, rather letting companies rely on cheap imported labour.

“Since last year, 4,000 new private sector jobs have been announced in the Tees Valley. This is great, but there’s more to do. I will continue to do all I can to drive investment and bring new jobs to the region.”

In the Tees Valley average advertised wage stood at £28,800, rise of 4.7% over the last year.