Unemployment in the West Midlands decreased by 13,000 to 140,000 between March and May, the decrease of 0.4% to 4.8% was the best in England. 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 West Midland’s average property prices increased by 0.2% to £196,489 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%.
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...