All the indications are that the Black Country is booming.
In the period from April to June 2015 there was yet another fall in the jobless total for the area with the number unemployed falling by 12,000 meaning more households becoming self- supporting and enjoying the fruits of employment.
This was reinforced by the July figures for those claiming Job Seekers Allowance. In Sandwell there were 70 fewer claimants. Wolverhampton and Walsall also had decreases in claimant numbers. Since the start of the year, unemployment has fallen by 26% in Dudley, 27% in Sandwell. 30% in Wolverhampton and 35% in Walsall.
New jobs have been created in the retail sector, evidence of growing consumer confidence and an increase in spending power, as inflation remains near zero while wages are increasing with average weekly earnings up 3.2% on a yearly basis. The Aviva Family Finance Report recorded the average family monthly income after tax at a 3 year high. The percentage of families with a monthly income of £2,500 or more has risen from 39% to 43% in the last 6 months, the report found.
A driver of success is the flourishing motor industry, whose suppliers make up a significant proportion of Black Country industry. Figures released by the Society of Motor Manufacturers and Traders show that, in the United Kingdom in the period from January to June 2015, three cars were built every minute. The number of vehicles exported in June 2015 was up 9% from the same month last year. Productivity in the industry has increased by 35% in 4 years and sets the bench mark for other manufacturers.
Much has been achieved by government encouraged investment in high technology, efficient manufacturing processes and with a highly skilled dedicated workforce. Britain's modern motor industry is far removed from the situation of the old. Then, weak management routinely capitulated to the demands of shop stewards whose political motivations were far removed from the interests of the workers they claimed to represent. The result; a lack of competitiveness in the international market place, collapse of the industry and job losses.
Now, with a government committed to democratising union decisions and giving individual members a greater say, encouraging training and apprenticeships and removing unnecessary restraints on trade and industry the future looks even brighter for Black Country industry.
This optimism is reinforced by the recent announcement that the Black Country Local Enterprise Partnership is to receive £123.6 million of European funding to boost business and create more employment opportunities.