Berkshire Economic Commentary 2011 - February 2011

Another month of mixed messages.  Although there is no 'negative' business intelligence to report, unemployment went up last month (the first rise in over 12 months) and vacancies fell.  This is a double whammy dealt to those seeking jobs - not only are there less jobs to apply for, but you are now competing against more people.  There are 13,500 JSA claimants in Berkshire, chasing approximately 7,000 jobs.  THIS IS NEARLY 2 JSA CLAIMANTS PER JOB, AND DOESN'T EVEN INCLUDE THOSE IN EMPLOYMENT SEEKING A MORE SECURE POSITION.

Private sector job creation will help reverse this trend and strengthen the local economy.  Businesses moving into the area are helping but nowhere near enough.  More initiatives that help existing businesses to grow and local entrepreneurs to set-up and expand are needed in order for the local economy and labour force to be stimulated and pulled out of this downturn.