London is creating jobs at three times the rate of the West Midlands according to new analysis published by the TUC today (Monday). The analysis shows that between 2010 and 2014 jobs growth in London (11.5 percent) was more than twice as fast as the UK as a whole (5.1 per cent) and three times as fast as the West Midlands (3.7 per cent).
In 2013 economic activity in the North East accounted for 7.2 per cent of the value of the entire UK economy, which is the same as in 2010 but down from 8 per cent in 1997.
In 2014 the West Midlands accounted for 8.4. per cent of UK jobs, down from 8.5 per cet in 2010 and 9 per cent in 1997.
Midlands TUC Regional Secretary Lee Barron said:
“We need a recovery that works for the whole of the UK, but cuts to infrastructure and services have hit places that are most in need of investment. We now have an unbalanced recovery that is too concentrated in London, too dependent on families getting into debt, and too focused on jobs in low-paid service industries.
“The West Midlands has great strengths in industries such as manufacturing that can really power growth and quality jobs that will truly rebalance our economy across the country. However, the region wont make the most of this strength and opportunity unless they are supported by investment in skills, infrastructure and decent public services – but the Chancellor’s extreme cuts will mean pulling the plug.
“We need a better economic plan that prioritises balanced growth across all of the UK by targeting investment to communities that are most in need of modern infrastructure and more decent jobs.”