East Midlands’ 'is open for business' as unemployment rate falls to its lowest point on record

The East Midlands unemployment rate is at its lowest point in seven years (Photo by Jack Taylor/Getty Images)

It was 3.5 per cent for the period between September and November last year, compared to a 4.1 per cent national average.

East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) chief executive, Scott Knowles, said: “This is fantastic news for the region’s labour market and sends a clear signal that the East Midlands is open for business.

“It reflects our own research that indicates our region’s firms are creating jobs to meet strong demand following the effects of the pandemic.

"The Chamber’s latest Quarterly Economic Survey (QES) for Q4 2021 showed two-thirds of companies attempted to recruit, while a net 35 per cent expect to increase their headcount in the first three months of 2022.

“We are represented by a very diverse economy in the East Midlands but there have been some standout sectors to celebrate in recent times, such as the logistics industry that has been a major driver of job creation during the pandemic, which has accelerated pre-existing online shopping trends.”

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While the East Midlands has one of the lowest unemployment rates for over-16s in the UK, the economic inactivity rate for people aged 16 to 64 rose from 21.02 per cent to 22 per cent.

UK job vacancies also soared to a record high of 1.24 million between October and December.

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