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Unemployment falls by 2.9%

Despite the negative impact of the Rover situation the total number of unemployed in Coventry and Warwickshire fell by 2.9% in March 2000, the biggest drop since November last year, according to analysis undertaken by The Chamber. 

The most significant drops occurred in Stratford (6%), Nuneaton and Bedworth (4.8%) and Rugby (4.2%). This is linked to the lowest national rate of unemployment in March for 20 years (4%).

The overall unemployment rate in Coventry and Warwickshire also fell for the first time in 2000, down from 3.1% to 3.0%, well below the national figure of 4.0% and the West Midlands rate of 4.3%, comparing favourably to the figure of 3.7% for the same period last year.

Said Chamber research manager Jane Holland: 

"These figures will help to alleviate fears by individuals who may be adversely affected by the Rover supply-chain knock-on, especially when the news that the level of notified vacancies rose by 702 in Coventry and Warwickshire was announced in March, an overall rise of just over 23% from February."  

Figures for March 2000 in Coventry and Warwickshire also revealed that the reduction of unemployed women fell at a greater rate than that of men, 4% compared to 2.6%, the most significant decreases so far in 2000.  

The total number of unemployed in Coventry and Warwickshire fell to 12,408, compared to 14,981 in March 1999, a fall of 17.2% in twelve months.

An extra 487 positions were declared by the Employment Service in Coventry, in addition to 101 vacancies in Stratford, almost double the figure for February - an overall 47% rise in just one month. 

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CWN / Business / The Chamber / 20 Apr 00

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This page modified on 10 November 2008 09:49:15AM