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Unemployment figures for Kent and Medway in October 2022 show increase ahead of fears of a deep recession
09:36, 15 November 2022
updated: 09:55, 15 November 2022
As the nation lurches towards what seems an inevitable period of recession, the number of jobless in the county is back on the rise.
According to the latest figures from the Office for National statistics, across Kent and Medway in October an additional 320 people joined the dole queue compared to the adjusted figures for the previous month.
Only Ashford, Dover and Tunbridge Wells saw a reduction in the numbers claiming Jobseekers Allowance. Swale remained unchanged.
Kent and Medway's jobless total climbed to 37,150 - the equivalent of 3.3% of the working population.
Although only modest rises were seen in those districts on the increase, it suggests the gradual decline seen over recent months could be at an end.
Nationally, the unemployment rate has edged higher in the three months to September - rising from 3.5% in the three months to August to 3.6% to September.
It is feared the impending recession will see the numbers continue to rise over the coming months as businesses look to cut costs amid a backdrop of soaring costs and a cut in consumer spending.
After months of record vacancies, those have also dropped dramatically as firms resist taking on staff amid the coming economic storm.
Thanet remains the area of the county with the highest proportion of unemployed at 5.7%. Gravesham is next on 4%, followed by Folkestone and Hythe on 3.9% and Medway on 3.8%.
The west Kent areas have the lowest amount. Sevenoaks and Tonbridge and Malling on 2%, followed by Tunbridge Wells on 2.2%.
Nationwide, wage rises continued to be far outstripped by rocketing prices, with average earnings excluding bonuses down 3.8% when taking account of Consumer Prices Index (CPI) inflation, the figures showed.
Inflation is currently at 10.1%. It should be at 2%.
Chancellor Jeremy Hunt is set to reveal his plans to bring inflation under control when he announces his autumn statement - which is widely expected to be an almost complete reverse of the tax-cutting mini-Budget revealed by Kwasi Kwarteng in September which ultimately brought down Liz Truss as Prime Minister.
The Chancellor said: "[Tackling inflation] guides the difficult decisions on tax and spending we will make on Thursday. Restoring stability and getting debt falling is our only option to reduce inflation and limit interest rate rises.”
It is worth noting that the figures published each month by the ONS for Kent and Medway are adjusted during the month so can be moved both up or down when the following month's figures are released.
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