A surge in job creation and falling unemployment provide tangible signs of the renaissance that is taking place in the West Midlands, business leaders said today.
The region continues to lead the way in creating new jobs with employment rising by 1.6 per cent between March and May – the largest increase of any UK region.
And a 1.5 per cent drop in economic inactivity was the second largest decrease in the country.
Unemployment fell by 0.2 per cent in the last quarter, although the West Midlands still has the second highest rate alongside the North East.
Greater Birmingham Chambers of Commerce said the figures prove businesses in the region are finding it easier to access the right talent locally, despite long-standing concerns around skills.
Chief executive Paul Faulkner (pictured) said: “The renaissance of the West Midlands is becoming tangible to its residents.
“We can see the cranes in the sky and the groundworks for HS2, and rapidly rising employment rates, combined with falling unemployment and inactivity, show that West Midlands residents have the talent and the skills to access new jobs in the region.
“The last six months have been an exciting time for people across our region. Employment rates are rising faster than in any other region and we are catching up with national averages, but we must not become complacent.
“Upskilling local talent, retaining graduates from our world-class universities and supporting businesses to thrive will all play a crucial role in continuing this trajectory and realising the potential of the West Midlands.
“Our latest Quarterly Business Report shows that in Greater Birmingham, more businesses are adding to their workforce and fewer are experiencing difficulties doing so in comparison to the previous quarter.
“Access to talented individuals equipped with the right skills will become ever-more important to businesses as the region’s resurgence continues.”
