Economic Scorecard
The Economic Scorecard is a bimonthly bulletin that measures the key trends which are emerging from economic and labour market statistics in the wider Gateshead and Newcastle economy. The bulletin analyses current and previous performance to identify areas of significant impact on residents and businesses.
Key Messages for Gateshead (last update July 2011):
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In line with this, following the start of the recession, unemployment (Job Seekers Allowance claimants) rose as expected, and doubled to 5% by April 2009. Since then, the unemployment rate has remained on a higher plain, dipping slightly towards the end of 2010, but returning to around 5% throughout 2011 to date (data point - Jun 2011).
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Despite this, the proportion claiming out of work benefits has been declining for almost two years (data point - Nov 2010). This may reflect the gradual phasing in of Employment Support Allowance (ESA) at the end of 2008 to replace incapacity benefit and income support claims on the basis of incapacity for work. ESA claims require a work capability assessment, which appears more stringent than previous similar assessments. ESA accounts for around 50% of the out of work benefits measure.
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Qualification levels in Gateshead, those qualified to degree level or above and those qualified to higher education level and above, continue on an upward trend (data point - 2010). There are now 15.6% of people qualified to degree level or above, and 23.1% qualified to higher education level or above. However, the gap with England appears to be widening (though caution should be exercised due to large confidence intervals).
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With the exception of seasonal fluctuations, the average house price in Gateshead has remained fairly stable for several years, including the recession period. However, the average number of house sales was affected by the recession, declining from around 4,400 sales in 2007 to 1,700 in 2010 (data point - Jan-Mar 2011).
Analysis
Terminology used in Bulletin:
Out of work benefits - this measure consists of several groups of benefit claimants including job seekers, ESA and incapacity benefit, lone parents, and others on income related benefits. Claimants of DLA have been excluded as they may be in full-time employment, however, some DLA claimants will be included where they also fall into the groups mentioned above.
Unemployment claimant count - this measure relates to those people claiming Job Seekers Allowance (JSA).
Higher education - this measures qualifications above A-level, but below degree level.