Unemployment in the East Midlands remained at 104,000 between March and May, a rate of 4.2%. At 2.6% the South West of England had the lowest rate and at 5.6% the North East had the highest rate in the country. The UK unemployment rate stands at 3.8%.
The East Midlands average property price decreased by 1.2% to £189,622 during the month which reduced annual growth rate to 0.4%. In comparison, UK prices increased by 0.1% to £229,431 during May which reduced the annual growth rate to 1.2%.
The South East Midlands, which includes Northamptonshire, has become one of the first regions to agree a local industrial strategy with the government. The 111 page document was developed by the South East Midlands Local Enterprise Partnership in collaboration with local businesses and was signed off by Business Secretary, Greg Clark. The strategy builds on the existing research and development strengths of the area, including work on automotive design, connected and autonomous vehicles, and the future of freight transport.
A key focus of the plan is positioning The South East Midlands as the ‘Connected Core’ of the Oxford Cambridge arc. A plan from the National Infrastructure Commission which is intended to safeguard the booming economies of...