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Good News for Exeter

Amidst the gloom of a wet and windy January one ray of sunshine has broken through. The latest unemployment figures for December 2015 have revealed that Exeter now has the lowest level of unemployment on record. Against a UK average of 1.5% unemployment, the Exeter area posted a rate of 0.8% (664 people). According to the chairman of the Exeter Chamber of Commerce, this means that there are now more jobs available in Exeter than there are claimants.

Of course the true figure may be slightly different to this as the unemployment rate does not include those who are looking for work but have either chosen not to, or are not entitled to, claim benefits. However, as Rosie Denham, lead councillor for Economy & Culture at Exeter City Council said “the figures do point to an overall improvement in Exeter’s economic situation and it is great to see that the city is moving towards almost full employment.”

In fact, the unemployment figures didn’t just deliver good news for Exeter; across the UK as a whole the claimant count is now the lowest it has been since 2006. What does this mean for investors? Well, in fact, low unemployment can be a bit of a double-edged sword. On one hand, more people in work means more money circulating in the economy; but on the other, businesses may have to push wages up to attract the most able candidates. For investors therefore the standard advice remains to spread investments across sectors and regions and to create a portfolio which is designed to meet individual needs and expectations.

If you’re looking to create an investment portfolio, or if your situation has changed and you may therefore need to review your existing portfolio, contact Beckworth by using one of the links on our website.