May 22 2013 Latest news:
Tuesday, July 3, 2012
The legacy of the Olympic Games has had little effect on Newham’s unemployment rate, an academic study has revealed.
The initial findings, commissioned by the anti-poverty charity Elizabeth Finn Care, show the borough’s job figures have increased since the Olympic bid was won in 2005.
But the study, carried out by London School of Economics (LSE), also claims crime has fallen in the last seven years, while educational achievements have also improved.
Unemployment in the borough rose by 44 per cent between 2005 and 2010, compared with 21 per cent in London and 59 per cent nationally.
The study also discovered that annual household income did rise during the same period - but at a slower rate than the rest of the capital. Newham workers earn an average of £26,681.
Surprisingly, house price increases have been marginal. Newham saw a 3.5 per cent increase between 2005 and 2012 - compared to an increase of one third in London.
Newham Mayor Sir Robin Wales said the findings should be used to ensure the Olympics does make a real change to those living in the borough.
He said: “The host boroughs have fought tooth and nail to make sure the social and economic legacy of the Olympics is not forgotten.
“Long after the medals have been won and the party is over we want to see improvements to the lives of our residents.”
There has also been a six per cent increase in the number of start-ups in the borough between 2008 and 2011, while London and England saw a reduction.
Malcolm Tyndall, director of Elizabeth Finn Care, added: “As a charity working at the coalface of financial need, we are acutely aware of how much hope the Olympics is inspiring in local people.”
A full report will be released in August 2013.