Briefings and Blog

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We are all in this together

We are all in this together – or are we?  The traditional economist view is, of course, yes: we are all part of one big economy, we all have a role to play and the actions of one economic agent will impact on another.  I recall my very first...

All Aboard..

With this months figures showing the employment train is leaving ‘Recession Station’ the immediate question has to be where is it going?  Nationally the rate of unemployment has fallen and the number in employment has risen.  For Devon the number of...

Chief Economist’s Blog – How strong is Devon’s economy?

This really depends on how you define strong.  There are a number of indicators where Devon performs well and a number of others where the county performs less well. Unemployment for example is and has been for some time, lower than the national...

Welcome to the new Devon County Council Economy Blog

This blog will be keeping you regularly updated with key information that has an effect on the Devon economy. Rob Hetherington, Devon County Council’s Chief Economist will be sharing his views on the economy.

Briefings

Job Seekers Allowance Analysis - November 2011

For the first time since July the number of people claiming Job Seekers Allowance in Devon has fallen from 9,556 in September to 9,516 in October, this represents a 0.4% decrease month on month and follows the national trend (UK) where there has been a 1% decrease. As the decrease is only slight, this has had no impact on the rate of people aged 16-64 claiming JSA and this remains the same at 2.1%. Encouragingly the rate of unemployment in Devon remains below the UK average of 3.9% as well as our neighbouring authorities, a trend which has

Quarterly Economic Bulletin 3rd Qtr 2011

What appeared to be a rocky recovery from the 2008/09 global downturn now has the potential to
develop into a serious global crisis, with a combination of continuing sovereign debt issues and major
political nervousness contributing to the mix.

Over the last quarter, business surveys suggested that the pace of global growth was slowing, as the
impact of the Japanese earthquake, Eurozone fiscal concerns and rising commodity prices continued to suppress activity in major economies. In addition to the supply chain disruptions caused by the
Japanese earthquake, the recent floods in Thailand are likely to have a similar impact on production.
Honda, the third largest Japanese car manufacturer, has just announced that profits fell by 56% in the
third quarter, following a slow recovery from the effects of the earthquake. Further to this, the Thai
floods have also disrupted supply chains and operations and Honda has cut production to
accommodate the parts shortages from affected factories in Thailand. There may also be further
impacts to Devon and UK businesses who are relying on components from factories in the affected
regions.

 

Job Seekers Allowance Analysis - October 2011

For the third month in a row unemployment in Devon has gone up, from 9,409 in August to 9,556 in
September, representing an increase of 1.6% month on month. However the percentage of the working age population who are in receipt of Job Seekers Allowance (JSA) remains the same at 2.1%. Nonetheless the rate of JSA claimants in Devon continues to remain below our neighbouring areas and significantly below the national average, as it has done over the past twelve months.