Damian welcomes the latest employment figures showing the UK has reached its highest ever employment rate of 74% - with a record 31.4 million people now in work.
With the unemployment rate down to 5.1% - the lowest level for ten years – and long term unemployment down by 25% over the last year, these record-breaking numbers mark an important milestone on the road to full employment.
The number of people in work is up by 588,000 over the past year, with nearly three quarters being in full-time employment; the driving force behind the significant growth in jobs.
There are also more women in work than ever before and 136,000 fewer young people unemployed that a year ago.
Damian said:
“With wages continuing to grow and the new National Living Wage taking effect in April, there are clear signs that we’re on the right track towards full employment. The record number of vacancies – over three quarters of a million – offers further opportunities and we must work hard to make sure we help as many people into the workforce as possible.
“There are risks ahead in the global economy but we start the new year in a strong position, working to move Britain’s finances back into the black.”