Unemployment remains at 40-year low

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Minister for Employment, Damian Hinds MP Minister for Employment, Damian Hinds MP

Express logistics enters peak with a rich demand for workforce while UK Govt report lowest unemployment in 40 years.

National employer group for Dept for Work and Pensions reported (Nov 16) Unemployment is down 59,000 on the quarter and is the lowest rate since 1975.

Employment rate is at a near record of 75.0% with 32 million people in work. Official figures show that unemployment has remained at 4.3%, the lowest rate since 1975.

The figures, released by the Office for National Statistics, also show that employment remains at a near record high, with 32 million people in work. Increases in full-time and permanent work are behind the figures. In the last year the number of people on zero hours contracts has fallen by 20,000.

Minister for Employment, Damian Hinds said:

The strength of the economy is driving an increase in full-time, permanent jobs and a near-record number of people are now in work thanks to the Government’s welfare reforms.

When unemployment fell to 5% early last year, many people thought it couldn’t get much lower, and yet it now stands at 4.3%.

Everyone should be given the opportunity to find work and enjoy the stability of a regular pay packet. We’ve cut income tax for 30 million people since 2010, meaning people keep more of their money each month.

 

Today’s (Nov 16) employment figures also show:

.         The number of people in employment has increased by more than 3 million since 2010.

·         The UK has the 3rd highest employment rate in the G7.

·         The number of workers aged 50+ has almost reached 10 million - a record level.

·         Youth unemployment has fallen by over 40% since 2010.

·         There are a near record 780,000 vacancies in the economy at any one time.

·         The proportion of young people who are unemployed and not in full time education remains below 5%.

Last modified on Thursday, 16 November 2017 16:00
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