South West

  • The South West retains the lowest unemployment rate in the UK, the West of England local industrial strategy published and the ‘Great Western Powerhouse’ mooted

    July, 2019
    Unemployment in the South West of England was unchanged at 76,000 between March and May. At 2.6% the region had the lowest rate in the UK and at 5.6% the North East had the highest rate. The national unemployment rate stands at 3.8%. The South West of England’s average property price increased by 1.2% to £257,563 during the month which uplifted the annual growth rate to 2.7%. In comparison, UK prices increased by 0.1% to £229,431 during May which reduced the annual growth rate to 1.2%. The West of England has become one of the first regions to agree a local industrial strategy with the government. The 78 page document was developed by the West of England Combined authority/LEP in collaboration with businesses and was signed off by Business Secretary, Greg Clark. The strategy includes; a new Global Centre of Innovation Excellence, developing new products and services through a new West of England Network of Living Labs, including more regional providers in businesses’ supply chains, incentivising companies towards low carbon business models and investing in infrastructure that reduces energy demand. The plan also envisages supporting businesses to adopt new clean technology and energy efficiency measures plus building new carbon-neutral homes. In another report, this...