Business leaders in Coventry and Warwickshire have welcomed the fall in unemployment across the region and say it highlights that the economic recovery is still on track.
In Coventry, the count dropped from 6,613 to 6,263, while in Warwickshire it fell from 4,620 down to 4,469 meaning 500 less people on the unemployment list across the region.
The Coventry and Warwickshire Chamber of Commerce said it was good news for the individuals, for business and the wider economy but they continue to warn against complacency.
Louise Bennett, chief executive at the Chamber, said: “For every person that is now in work that was previously unemployed this is great news and it’s important not to forget that behind every set of statistics there are individual lives that are being changed.
“It shows that businesses across our patch are continuing to grow and take on new people and that is positive news for them and the wider economy.
“The recovery and subsequent growth are staying on course and that is something we all want to see continue into the medium and long term.
“It’s positive to see that youth unemployment is falling too. We have worked on a pan-European project called YEU on the whole issue of youth unemployment and while it’s great to see the number falling, we still believe it must be a priority of this Government and the next one to get the figure down even further.
“Aside from the positives, we must dig deeper beneath the statistics too and while unemployment is falling, wages are hardly rising so it’s important that complacency doesn’t creep in for policy makers.
“Inflation remains low too and, taken together, that suggests that there is no need for an immediate interest rate rise as some are suggesting. When you speak to businesses on a daily basis, as we at the Chamber do, you realise that there is confidence out there but with a degree of caution.
“So I would warn against any rate rise for now in order to facilitate the positive growth we are seeing and to help continue the trend of falling unemployment.”
