08 Oct 2018
Glasgow has halved unemployment levels in the previous 5 years, new figures from the Office for National Statistics reveal.
An unemployment rate of 5.7%, recorded in 2017, is the lowest level recorded since estimates began in 2004. This represents the second largest decrease in unemployment in UK Core Cities. Now Glasgow has the third lowest unemployment levels amongst these Core Cities.
City chiefs received more good news when the findings also demonstrated that Glasgow has increased its business base by 1,000 since 2013. Furthermore, the total output of goods and services was up by 4.4% in 2015 and 2016.
Greg Hepburn, chair of the city’s public realm committee, said: “It is encouraging to see that Glasgow’s economy is moving on an upward trend, with our performance now above the average of other UK Core Cities.
“We have achieved the lowest unemployment rate in the city since measures began, which is particularly pleasing.
“We want to ensure that all our citizens can secure sustainable, stable and reliable employment which pays at least the Living Wage.
“Whilst challenges such as increasing the city’s productivity rate remain, most of these indicators show a healthy and growing economy.
“One of the City Government’s key policies and commitments is inclusive economic growth, which aims to boost growth, create jobs, tackle poverty and improve the city’s health, with some key initiatives launched just this week to help us to deliver that.
“We have also established the Glasgow Partnership for Economic Growth, another plank in assisting us to do all in our power to ensure that these positive trends continue.”
In the last five years Glasgow’s economy grew by 4.4%, outpacing the Scottish average of 3.2% and beating the UK average of 3.7%.