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SCC CAUTION THAT TODAY’S FIGURES DEMONSTRATE FRAGILITY OF ECONOMIC RECOVERY
[ 26-06-2013 ]
Commenting on the employment and Scottish GDP data released today, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
“These figures reinforce the key message apparent from the Scottish Chambers of Commerce Quarterly Business Survey released last week, that we are experiencing very fragile economic recovery.
“The 0.4 per cent increase in GDP in Scotland in the first quarter of 2013 precedes a 1.1 per cent increase in employment in the second quarter of 2013. This is welcome – but the low increases show that growth remains weak, and the rise in unemployment to 7.1 per cent in the same time period shows that the picture is not one of universal confidence.
“This fragile recovery needs to be strengthened. To do that we need to look behind today’s figures at what is going to drive economic growth and job creation. SMEs are such an important part of the economy in Scotland in particular, so policies are required which will support their growth. For example, capital projects must include a mix of larger and smaller contracts to enable SMEs to benefit from the investment.
“In addition, we need to look at underlying issues such as underemployment, and how we tackle this to make sure we are not wasting the talent Scotland has. Scottish Chambers of Commerce have been working in partnership with the Scottish Government to support SMEs to create jobs for our graduates. We look forward to continuing to work together to support SMEs to continue to grow and create jobs.”
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