Job figures encouraging but region still has a way to go - Chamber

The West Midlands job market received a boost in the first quarter of 2022 - with employment reaching a record high and unemployment also falling, new figures reveal today.

According to the Office for National Statistics (ONS), the region 's employment rate for the three months ending March 2022 reached 76.1 per cent, having risen by one per cent from the October to December 2021 period.

And unemployment fell 0.4 per cent to 4.6 per cent.

The economic inactivity rate was a joint record low for the region of 20.3 per cent, having declined by 0.7 per cent in the same period.

The West Midlands unemployment rate decreased by 1.5 per cent since the same period last year - compared to 1.2 per cent nationally.

Nationally, job vacancies rose to a new record of 1,295,000 in the February to April 2022 period.

However, the rate of growth in vacancies continued to slow down.

For the first time since records began, there are fewer unemployed people than job vacancies.

Emily Stubbs (pictured), policy and projects manager at Greater Birmingham Chambers of Commerce, said: “It 's encouraging to see the West Midlands reach a new record high employment rate, and a significant decrease in the regional unemployment rate over the past year.

“Nevertheless, the region still has a way to go. It is of vital importance that stakeholders and the business community continue to work together to reduce skills gaps in the region, in order to ensure that local residents are able to access meaningful employment opportunities and local businesses have access to the skilled talent they need to grow.

“For those in work, increases in regular pay continue to fall below the rate of inflation, and in response to this ongoing cost of living crisis, the Chamber is calling for immediate fiscal intervention from national Government.

“The Chamber 's latest Quarterly Business Report survey opened this week, and we want to know the key challenges your business is facing in the current economic environment. ”

To complete the Chamber 's five minute Quarterly Business Report survey, and be in with a chance of winning a Broadway Plaza Bundle consisting of 4x Odeon Luxe cinema tickets, a £50 Frankie and Benny 's voucher and free parking for a week, click here.