News - 19 May 2015

East Midlands employment rate continues to rise

The employment rate in the East Midlands continues to rise, according to new figures by the Office for National Statistics (ONS).

The ONS recently published its Regional Employment Bulletin for May 2015, and it shows that the East Midlands is one of the top 5 UK regions for employment, with the local employment count now standing at approximately 2,225,000, this is compared to 2,180,000 for the same period in 2014.

D2N2 – the Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire, set the task of creating 55,000 new jobs by 2023 and is well on its way to achieving this. The D2N2 Unlocking Investment for Growth (UI4G) programme has helped businesses to bridge funding gaps, with grants already approved set to create over 400 new jobs and safeguard a further 350 existing jobs.

 

Regional Employment Figures (Credit: The Office for National Statistics)

The bulletin shows that the number of unemployed people in the East Midlands was 114,447, compared to 151,574 in 2014, meaning the regional unemployment rate currently stands at 5.1%. This is compared to the national unemployment rate of 5.5%.

The number of people in Derbyshire, Nottinghamshire and Leicestershire claiming Jobseekers’ Allowance (JSA) also fell by 999 in April, meaning there were 16,595 fewer claimants across the area than there were a year ago.

D2N2 Chief Executive David Ralph, said:

“The East Midlands is home to world class talent and businesses.”

He added:

“Our funding streams, along with the area’s economic resilience, mean that we continue to perform well against other areas of the UK.”

Unlocking Investment for Growth (UI4G) is funded by the UK’s Regional Growth Fund and the European Regional Development Fund. UI4G grant awards are given by the D2N2 Local Enterprise Partnership‘s Investment Panel, chaired by Peter Gadsby. The aim of the fund is to create long term sustainable jobs.

UI4G is now fully committed and is no longer accepting applications. Grants already approved will create over 400 new jobs and safeguard a further 350 existing jobs. The programme has inspired business owners in the D2N2 area to invest over £20million, alongside the grant support of £4.7million, to grow their businesses. The programme is managed for D2N2 by EMB Ltd.

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