With 31m people in work, employment is at its highest level in history. Employment has risen by 1.85 million since 2010, equating to an extra 1,000 people in work every day - further evidence of the Government’s long term economic plan paving the way to a stronger UK.
Importantly, this rise in employment is full time and well paid. Full time jobs accounted for 95% of the rise last year and since 2010 two thirds have been in higher skilled occupations. Pay packets are also on the up with regular pay 1.6% higher than last year – which is above inflation.
This positive trend in employment is shared in East Hampshire with just 0.8% of the economically active population claiming Job Seekers Allowance – a fall of 1.3% since May 2010. There are 21 fewer claimants this month than last, 216 lower than this time last year and 618 fewer than in 2010.
Damian Hinds said:
“This is more good news on local jobs and encouraging evidence of the broader economy’s recovery. Whilst there is always more to be done we can have confidence that the government’s economic plan is working.”
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For more information please contact Verity Ryan at Damian Hinds office ([email protected]).
Note to Editors
Employment: 30.94 million (up 617,000 on the year – over 1,600 jobs every day - and up 1.85 million since the election)
Employment rate: 73.3 %(the highest since records began)
Unemployment: 1.86 million (down 479,000 on the year and down 654,000 since the election)
Unemployment rate: 5.7% (lowest since May-July 2008
Claimant count (and UC): 816,800 (down 358,300 on the year - the 28th consecutive fall)
Out-of-work benefits: The number of people claiming the main out-of-work benefits is 975,000 lower than in May 2010 – lowest level since 1982
Wages: Regular pay for employees in GB up 1.6% on year and total private sector pay up 2.1% over the past year
Over three quarters of the number of people in work since the election are in full-time jobs (up 1.42 million since 2010) – full-time jobs (up 481,000 on the year) accounted for 95 per cent of the rise in employment over the past year
Youth employment has risen by more than 110,000 in the past year and youth unemployment has also fallen by around 20%. The number of young people claiming JSA is at its lowest level since the 1970s
Since 2010 two thirds of the rise in employment has been in higher skilled occupations
UK has seen the largest annual fall in unemployment in G7