Unemployment in London decreased by 9,000 to 209,000 between March and May, a decrease of 0.2% to 4.3%. 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%.
London average property prices were the worst performing in the UK and fell by 2.5% to £457,471 during the month which meant annually prices dropped by 4.4%. In comparison, UK prices increased by 0.1% to £229,431 during May which reduced the annual growth rate to 1.2%.
In its review this month of the 38 Local Enterprise Partnerships (LEPs) - the private sector-led partnerships between businesses and local public sector bodies that support local economic growth - the Public Accounts Committee of the House of Commons found that from 2015-16 to date; £9.1bn of taxpayers’ money has been awarded to LEPs through three tranches of Growth Deals. London, with one LEP, has received £435m, the north of England, with 11 LEPs, has received most of the funding at £3.4bn (38%), and the East of England, with three LEPs, has received the least with £703m.
The Ministry of Housing, Communities and Local Government considers the population...