Huge Disparity In Job Creation Between North And South – Ons Report

[interestrateripoff]

http://www.theguardian.com/society/2015/oct/09/job-creation-employment-growth-north-south-england-recession-ons-report

The scale of the government’s challenge in creating a “northern powerhouse” has been highlighted by official figures that reveal a stark difference in job creation between London and the south-east and the rest of England since the recession.

Data from the Office for National Statistics (ONS) shows employment growth in northern England started three years later than in the southern regions and continues to be weaker.

George Osborne used his Conservative party conference speech on Monday to champion the northern powerhouse idea, using improved transport links and devolved economic powers to create a hub of fast-growing cities across the Pennines.

The chancellor said in his March budget that the north had grown faster than the south over the previous year and the region with employment rising at the quickest rate had been the north-west.

But the figures from the ONS Business Register and Employment Survey paint a less upbeat picture. They show that employee numbers began to rise in the south in 2009, the year the economy started to emerge from its longest and deepest post-second world war recession. In the north, by contrast, employment continued falling for another three years.

The ONS said: “Northern England regions collectively have grown below the UK average in both the 2009-2014 period (growing at 2.2%) and the 2013-2014 period (growing at 2.7%). This is in stark contrast to the southern regions, which collectively have grown by 7.5% during the 2009-2014 period and 3.5% during the 2013-2014 period.”

I don't think the North has ever recovered from the loss of manufacturing, although this disparity caused by finance being located in London has been going on for a couple of centuries.

[porca misèria]

The headline seems to deny the story, which isn't north-south but London belt vs the rest.

Besides, the Northern Powerhouse has a centre of the finance industry. It's called Leeds.

[winkie]

edit:

....anyway lots of London and the South East's money comes from outside the area or is manufactured there....hard to compete with that....careful what you wish for.

Edited October 10, 2015 by winkie

[winkie]

You need money to create the jobs, but most importantly you need people with money to spend to keep the jobs.....Christmas is coming.

[kjw]

A couple of blue helmets...