‘Unbalanced recovery’ hitting region

Workers: Lynn Collins

Workers: Lynn Collins

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London is creating jobs at six times the rate of the North West, according to new analysis published by the TUC.

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).

It was also six times as fast as the North West (1.8 per cent). If job growth matched UK levels, there would be an additional 105,000 jobs in the region. Jobs growth in the North West was slowest of all regions of the UK.

The TUC analysis also shows that from 2010 to 2013 London’s economic growth (14.5 per cent) was more than three times as fast as the North West’s (4.5 per cent). Only Wales has experienced lower growth, at 4.4 per cent.

In 2013 economic activity in the North West accounted for 9.3 per cent of the value of the entire UK economy, down from 9.7 per cent in 2010 and 9.8 per cent in 
1997.

If economic activity remained at the 2010 share, the region would have generated an extra £5.9 billion.

In 2014 the North West accounted for 10.6 per cent of UK jobs, down from 11 per cent in 2010 and 11.1 per cent in 1997. The difference from 2010 equates to around 120,000 jobs.

TUC North West regional secretary Lynn Collins 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.”