Unemployment Falls Again

More good news on the economy came this week with news that unemployment has again fallen. The national unemployment rate is currently 7.7%, which is a drop of 240,000 in unemployment. The continued fall in unemployment is a good sign that the economy is on the mend after years of Labour mismanagement. Welcoming the news both the Prime Minister David Cameron and Chancellor of the Exchequer George Osborne urged MPs not to get complacent saying that there is “still a long way to go”. The claimant count in Eltham dropped by 8.9% and by 5.6% in Greenwich & Woolwich. Unemployment in the constituencies is between 4.6% and 6.4% in Greenwich & Woolwich and between 3.4% and 5.6% in Eltham.    

Welcoming the figures Leader of Greenwich Conservatives Spencer Drury said, “These figures are a positive step in the right direction for our economy. The housing market is recovering, banks are working off their bad debts, and the Government is promoting enterprise through tax cuts, with a cut in national insurance that will greatly help small companies on its way. However these figures show that more needs to be done. It would be helpful if Greenwich Council would work harder in terms of making the borough a still more attractive place to invest, such as by improving their planning processes, not increasing parking charges and dropping the pavement tax”.