IN A month where key indicators of economic health all seem to pointing in a positive direction, it was great to see more good news this week with the release of the first batch of labour market statistics of the new year, writes James Ramsbotham, NECC chief executive.

It is fair to say that the last two quarters of 2014 provided a real boost to our employment stats and we rounded off the year by once again boasting more people in jobs in our region than ever before.

The ONS statistics unveiled last week once again had every indicator heading on the right bearing and over 30,000 more people in work than this time last year…and we were doing well last year!

Think about that. 30,000 people is just below the capacity of Riverside Stadium. That is an awful lot of people who are now in jobs across our region and that figure remains on an upward trend.

Employment is at a record high for the second successive month thanks mostly to businesses while unemployment is at its lowest in over five years – down 20,000 on a year ago. The claimant count also continues its long term decrease and is down over 20,000 on the year, back to its pre-financial crisis level of 2008, which is great news.

While the North-East unemployment rate remains too high, moving below 9 per cent represents something of a symbolic victory.

In spite of the economic progress we have seen in the past two years, North-East unemployment has remained largely static, which has been a constant cause for concern.

To see it start to fall is very encouraging. Our unemployment rate is dropping as fast as anywhere in the country while the increase in employment has been bettered only by one other region.

I’ve said it before and no doubt will say it again, but the North-East business community has made the majority of this progress in the labour market possible, in the context of continuing retrenchment in the public sector, which just goes to underline the necessity for pro-business public policy placing a premium on development, investment, employment and growth.

While it seems like we have just welcomed in a new year, we find ourselves already hurtling towards a forthcoming budget and general election. We believe it is vital that political parties understand and safeguard the role that businesses play for the well-being of our country and we will be doing everything in our power to remind prospective MPs and councillors of their duties to protect our regional interests and stimulate more positive growth.