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ECONOMY -Doncaster Employment Growth Masking Slow Recovery

A report released today by Doncaster Chamber, highlights the challenges facing the economy during 2010. The Doncaster Economic Review details data collected during the first three months of the year and reveals a worrying fall in both domestic (22pc) and overseas trade (18pc). Indeed businesses expectations of profitability for the remainder of the year have also fallen by some 10pc. 3 in 4 Doncaster businesses are now fearful of a secondary recession and are deeply concerned of the effects of an ill-timed withdrawal of public sector stimulus. As this is to be a key battle in the upcoming election, the political parties must consider the effect of budget cuts on what is clearly still a fragile economy, whilst outlining for the benefit of tax payers and businesses alike just how the deficit will be managed.

Of comfort, are the employment statistics that reveal an increase in recruitment of 6pc and a forecasted increase of 9pc in the coming quarter. This reflects the lower levels of unemployment seen nationally and again advocates the role of a flexible workforce in maintaining employment during a recession. The figures also offer some comfort that the recovery can be sustained in the medium and long term, provided that the Government continue to show the responsibility evident in the recent budget.

Click here to read the full report