Latest figures show continued strength of Cheshire East economy

cheshire-east-council-logoThe leader of Cheshire East Council has hailed the success of the borough’s entrepreneurs and businesses.

It follows publication of the latest figures for the number of people claiming unemployment benefit and a rise in average earnings showed the local economy is on the up and up.

The proportion of working-age people (16-64) claiming unemployment benefit has also fallen from 1.9 per cent in December 2013 to just 1.1 per cent last month. This compares with latest figures of 1.4 per cent in Cheshire West, 2.3 per cent in the North West and 1.8 per cent for Great Britain.

Latest figures also show that the proportion of economically inactive people has fallen from 24.6 per cent in 2014 to 20.3 per cent in the year to September 2016. This is better than both the average for the North West (24.4 per cent) and Great Britain (22.2 per cent).

The proportion of Cheshire East’s 18-24 year olds making unemployment benefit claims is now 1.9 per cent. This figure has more than halved since December 2013, when it stood at 4.1 per cent.

Meanwhile, the gross average weekly earnings of full-time workers living in Cheshire East has increased from £507.10 in 2008 to £541.60 in 2016.

Councillor Rachel Bailey said: “This is more good news for the strong economy of Cheshire East. The unemployment benefit claimant rate is at a historic low.

“These are really encouraging figures, led by the growth of not just our big employers, such as Bentley, but also our many smaller businesses and the success of local entrepreneurs.

“We remain very optimistic about the attractiveness of Cheshire East to businesses large and small who recognise the quality of place it provides for people to invest, live, work, visit and do business.

“We fully expect unemployment to fall further as Cheshire East attracts more growth and jobs, especially with a HS2 rail hub set to be established in Crewe.”

The proportion of Cheshire East’s 18-24 year olds claiming unemployment benefit (at 1.9 per cent) is significantly lower than the average figures for the North West (3.4 per cent) and Great Britain (2.7 per cent).