Key headlines for Cumbria:
- There were estimated to be 226,403 residents in payrolled employment in April, an increase of 91 from March and 1,575 more than a year ago.
- Median monthly payrolled earnings in April were £2,398 in Cumbria which is 95% of the UK average. Annual pay growth was 5.9% in Cumbria compared to 6.4% nationally (only the 3rd time annual pay growth has slipped behind the UK since the pandemic).
- There were 6,800 claimants of UC/JSA actively seeking work in April which is 100 fewer than the revised March figure. Barrow was the only former district to see an increase in jobseeker claimants. The claimant rate in Cumbria was 2.3% in April compared to 4.1% nationally and was below the national average in all former district areas. However, claimants rates for young adults (aged 18-24) in Barrow have climbed well above the national average for that age group once again (5.9% v 5.4%).
- There were 342 young people (aged 16/17) classed as NEET (inc not knows) in March which is 35 more than in February – there were 226 NEETs in Cumberland and 118 in Westmorland & Furness. The NEET rate was 3.2% in March, up 0.3ppt from February but down 0.3ppt from a year ago. The rate was 3.8% in Cumberland and 2.6% in Westmorland & Furness, both well below the national average of 5.2%.
- The participation of young people (aged 16/17) was 91.3% in March (89.9% in Cumberland and 92.8% in Westmorland & Furness) compared to 92.2% nationally.
- According to Lightcast there were 9,308 active online job postings in April, 27 fewer than in March although it was a mixed picture with Cumberland having 411 fewer and Westmorland & Furness 384 more. Despite the fall in the overall stock of vacancies, the volume of newly placed postings during the month rose by 133. The mostly commonly advertised jobs were for care workers, cleaners & domestics, kitchen & catering assistant and sales.
- There were 30,916 companies in Cumbria on the FAME database at the end of April, 21 more than in March. There were 189 new Companies House incorporations during the month, 65 fewer than in March and there were 251 businesses newly recorded as dissolved/in liquidation during the month (it is not unusual to see an increase at this time of year).
- Of the active businesses on the FAME database, 1,730 had posted financial results indicating growth of 10%+ in employment and/or turnover (5.6% of businesses) and 1,474 had posted results showing a 10%+ decline in one or both measures (4.8%). In both cases, these proportions are higher than the national average. Among businesses with a credit score, 704 had a high risk score (1-20) which is 4.4% of businesses (with a score) compared to 6.9% nationally.
