Thursday, July 17, 2014

1.8 million more people in work

New figures from the Office for National Statistics show that, since the election, there are now 1.8 million more people in work, and with the security of a pay packet – clear evidence our long-term economic plan is working.
These strong jobs numbers are another clear sign that our long-term economic plan is working, building a stronger, healthier economy: more people have the security of work than ever before, the number of people looking for a job is down this year by the biggest amount since 1995, and the number of young people relying on benefits has had its biggest annual fall since 1997.
We have been backing businesses across Britain with better infrastructure and lower jobs taxes as part of our long-term economic plan, helping them to create more jobs, and now 1.8 million more people now have the security of work. Each one of those jobs is another family who can now have more peace of mind about their future.
But we know that families are still feeling the impact of Labour’s Great Recession. The foundations of a broad based recovery are now in place, but we cannot be complacent. The only way to get living standards up sustainably is to build on these foundations, keep growing the economy and keep backing businesses to create more jobs. The biggest risk to families’ economic security would be abandoning our plan which is delivering exactly that.
 
Key statistics
· Employment: 30.6 million (up 254,000 this quarter and up 1.8 million since the election).
· Employment rate: 73.1 per cent (up 0.5 points this quarter and up 2.8 points since the election).
· Unemployment: 2.12 million (down 121,000 this quarter and down 372,000 since the election).
· Unemployment rate: 6.5 per cent (down 0.4 points this quarter and down 1.5 points since the election).
· Claimant count: 1.04 million in June (down 36,300 on May and down 451,000 since the election).
· Total weekly pay: in May 2014 this was up by 0.4 per cent over the year.

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