Responding to the latest ONS unemployment data, Nick Bowes, Chief Executive, Centre for London said:

“Given the increasingly gloomy picture predicted for the UK economy over the next year or so, there’s some good news in that the number of Londoners out of work continues to nudge down. London’s rate is down from its pandemic peak and now below that in the North East and is now level with the West Midlands. However, it remains substantially above the UK average.

With wages falling and costs rising sharply – and with worst predicted to come this winter – the squeeze on Londoners is tightening by the month. The city is already a very expensive place to live, but with energy bills, rents and mortgage payments on the rise and increases in tax, this is a triple-whammy. Those with the lowest incomes are in desperate need of additional support from the government but given the scale of the financial hit coming down the line, many more Londoners will be struggling with bills over the winter months and may also need financial help to cope.” 

ENDS 

Notes to editors 

• Centre for London is dedicated to researching the city’s critical issues. We bring together London’s citizens, experts and leaders to discuss, develop and implement the policy solutions to tackle them. We can make London a safe, open, well connected and dynamic city, where everyone thrives.