Unemployment in the North East was unchanged at 71,000 between February and April but at 5.6% it was still the highest in the UK. At 2.6% the SW of England had the lowest rate in the country. The UK unemployment rate stands at 3.8%.
After North East average property prices surged by 5.0% in April, this month prices reversed by 1% to £127,885, which meant annually prices dropped by 0.7%. 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. The north of England, with 11 LEPs, has received most of the funding at £3.4bn (38%), the East of England, with three LEPs, has received the least with £703m, and London, with one LEP, has received £435m.
The Ministry of Housing, Communities and Local Government considers the population of an area as well...