Regional Trends Report March 2020 – North
APSCo and Vacancysoft
The economic implications of Coronavirus, along with the supply-side shock of the transitional period at the end of 2019 has led to a Governmental stimulus package on a scale that hasn’t been seen for a decade. A key part of this is an investment into infrastructure, with the North a key beneficiary. Overall, the plan is to invest £600 billion into infrastructure over the next five years, with the new Chancellor reaffirming his commitment to building the Manchester to Leeds high-speed rail link. There was also a pledge to upgrade 4G networks to reach 95% of rural areas. This, combined with the cut in interest rates and plan to help businesses impacted by the Coronavirus, will hopefully ensure that the economy can bounce back after the inevitable negative effects of COVID-19.
Across the North, contrary to the rest of the country, vacancies have increased by 4.8% in 2019 – in contrast, across the rest of the UK vacancies dropped by 3% in 2019.
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