Unemployment figures in the West Midlands have bucked the national trend by going up.
The Office for National Statistics said the rate fell to 3.5 per cent over the three months to August – the lowest since February 1974.
Economic activity increased by 0.6 percentage points to 21.7 per cent, driven by people aged between 50 and 64. This meant that both the rate of unemployment and employment declined over the period. The West Midlands saw a fall in the numbers claiming unemployment benefits, including Universal Credit last month. The total of 177,405 was down 45 on the previous month.
"However, the number of people neither working nor looking for work continues to rise, with those who say this is because they're long-term sick reaching a record level. In July to September 2022, the estimated number of vacancies fell by 46,000 on the quarter to 1,246,000, the ONS said, amid a slowdown in company investment.
"Our ambitious growth plan will drive sustainable long-term growth, meaning higher wages and better living standards for everyone, and we are cutting taxes so people can keep more of what they earn."
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