The latest data released by the Office for National Statistics on the 17th August found that in the three months to June 2016:
- South West unemployment fell by 6,000 (0.2%).
- Unemployment in the region stands at 4.0%, below the national average.
- National unemployment fell by 52,000, now standing at 4.9%.
Commenting on the labour market statistics, Phil Smith, Managing Director of Business West, said:
"These latest figures show the jobs market in the South West appeared to rally in the immediate run-up to the EU Referendum vote.
At this point in time the unemployment rate in our region remains amongst the lowest in the country, but it’s likely to be some time before the full post-referendum employment picture emerges.
Already there are signs that the outcome prompted some firms in the region to put recruitment and investment decisions on hold until the outlook becomes clearer. What businesses need now is concerted action from government to boost confidence. Here in the South West we are eagerly awaiting the go-ahead on Hinkley Point C, which as Europe’s largest construction project, will bring an estimated 25,000 jobs and opportunities for local companies to get involved right across the supply chain."