Labour Market
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Overall, the region’s labour markets offer good opportunities
for rewarding employment to its residents. Economic activity and employment
rates are relatively high, and unemployment rates relatively low. Earnings
are below the national average, but similar to those in other English
regions outside London.
The region’s labour force is ageing more rapidly than is the
case nationally. Levels of economic activity among older residents
are currently relatively high. There is, however, a substantial threat
of increased inactivity in the near future as workers currently aged
50 and over move towards retirement, depriving the region of a large
stock of skills and experience.
The overall regional performance masks substantial variations between
sub-regions. For example, unemployment is generally below the national
average, but there are significant hot spots in some areas. Long-term
unemployment is also significant in Cheltenham, Plymouth, Gloucester
and Swindon. High rates of part-time working may reflect voluntary
decisions by the region’s residents, but in some areas they may
also be an indicator of underemployment.
Average earnings vary significantly across the region. On a workplace
basis, average weekly earnings in some unitary authority and county
council areas (particularly Caradon, Weymouth, Penwith and West Devon)
are significantly below regional and national averages, and are among
the lowest in England. Some of this, however, reflects commuting of
highly-paid residents into the larger urban areas.
The region’s employers face substantial problems in recruiting
staff. The region has a relatively high rate of hard-to-fill vacancies
in England, due to problems with both the quantity and the quality
of labour supply.
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