Figures suggest the economy is stabilising

Figures suggest the economy is stabilising

The latest set of weekly economic indicators published by Statistics Jersey says that on 14 June a total of 2,120 people were registered as ‘actively seeking work’ with the Social Security Department, which was 1,280 more than at the same time last year.

But the figure was 100 less than a week earlier and the report says that the number of people registered has now dropped for three consecutive weeks.

‘Of all individuals registered as ASW on 14 June 2020, almost two-thirds (64%) had been registered for three months or less,’ the report says.

‘Around 12% of all individuals registered as ASW had been registered for less than one month, corresponding to 250 individuals.

‘In the week ending 14 June 2020, around 40 individuals were newly registered as actively seeking work. This latest number of new registrants was around 20 lower than that recorded during the previous week.’

It adds: ‘The number of new registrations in the latest week was around 60 lower than the number of individuals who were de-registered (around 100 individuals).

‘This is the third consecutive week in which more individuals were de-registered than registered.’

The figures also indicate drops in income support claims and people claiming under the CRESS welfare scheme, which was set up during the crisis for workers who have been in the Island less than five years.

On 14 June, the total number of active income support claims was 6,500, which was 20 lower than the week before but still 810 higher than a year earlier.

Meanwhile, the number of CRESS claims fell by 30 to 180 active cases.

Elsewhere the figures indicate that almost £37.3 million has been paid out so far under phase two of the government’s Co-Funded Payroll Scheme, under which the public purse funds 80% of staff wages for struggling businesses.

A total of 5,930 claims have been made under the scheme since its launch in April.

The report says that public transport usage increased by 14% and road usage was up by 2% compared with the previous week.

And the number of people using buses has trebled since the height of the lockdown. In the week ended 14 June, 18,760 Islanders used a bus compared to 6,600 in the week ended 26 April.

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