Olympics to thank for improved employment rate
London’s employment rate has reached a two-year high thanks to jobs created by the Olympics.
Official figures from the Office for National Statistics reveal that national unemployment dropped by 46,000 in the second quarter of 2012, with London being held responsible for the majority of these new jobs.
In fact, The Press Association report that around 42,000 jobs in London were created in the three months to June.
Colin Stanbridge, who is chief executive of London’s Chamber of Commerce, claimed that the creation of these jobs was one of many economic benefits produced by the Olympics.
Speaking to standard.co.uk, he said: “These latest unemployment figures are further evidence that the Olympics has proved to be a success for both the economy and the country at large. The key now is to create a lasting economic legacy and the UK.”
It is thought other projects such as the Shard and Crossrail were also instrumental towards reaching the two-year jobs high. The vast majority of the new jobs created were full-time, although the statistics did reveal a slight increase in part-time workers across the country.
Britain’s unemployment rate now stands at approximately 2.56 million people. Around 1.59 million of these are claiming jobseekers allowance.