Tuesday, July 17, 2018

Good news on Jobs

New jobs figures show that in the past year, the number of people in work has reached record highs, unemployment is at its lowest since 1975, and wages are rising faster than prices. 

We want to help people into work by reforming welfare and delivering our modern Industrial Strategy to help create more, better paying jobs across the whole country.

There are now a record number of people in work and unemployment has fallen to a 40-year low – meaning more people have the security of a job and are able to provide for their families.

The Conservatives will continue to take the balanced approach our economy needs, creating jobs and opportunities to help people get on in life and build a better future for themselves and their families.

 Key statistics 
  • · Employment: 32.40 million (up 388,000 over the last year and by 3.35 million since 2010). 
  • · Employment rate: 75.7% (up 0.7 points over the past year and 5.4 points since 2010). 
  • · Unemployment: 1.41 million (down 84,000 over the past year and down by almost 1.1 million since 2010). 
  • · Unemployment rate: 4.2 per cent (down 0.3 points over the past year and down 3.8 points since 2010) – the joint lowest since 1975. 
  • · Wages: Latest figures show that average weekly earnings for employees in real terms increased by 0.4 per cent excluding bonuses, compared with a year earlier. 
  • · Youth unemployment: There are over 415,000 fewer young people out of work since 2010. 

Other useful statistics: 
  • · Wages are rising faster than prices – this is good news, but there is more to do. In the last year, regular pay for employees in Great Britain increased by 0.4 percentage points ahead of inflation. 
  • · The rate of employment is 75.7 per cent – the highest since comparable records began in 1971. 
  • · The unemployment rate is 4.2 per cent – the lowest since 1975. 
  • · The number of disabled people in work has risen by over 830,000 over the last four years. 
  • · Employment among ethnic minority groups has risen by over 1 million since 2010. 
  • · Vacancies are at 824,000 over three months to June 2018, up 30,000 on previous year and by 358,000 since 2010. 
  • · The number of people working full time is at a record high. 
  • · With almost 1.5 million more women in work since 2010, the female employment rate is at a new record high of 71.3 per cent. 
  • · Youth unemployment has fallen by 44.2% since 2010. 
  • · The UK has the third highest employment rate in the G7. 

It was Labour that left people with fewer jobs and fewer opportunities: 

· The number of unemployed people increased by one million in Labour’s last term in office.
· Youth unemployment rose by 44 per cent under Labour – meaning young people were not getting the skills they need to get on in life.
· The number of women unemployed rose by 25 per cent under Labour.
· The number of households where no member had ever worked nearly doubled under Labour.
· No Labour government has ever left office with unemployment lower than when it started.

Labour would put investment and jobs at risk:

Labour have pledged to raise Corporation Tax to 26 per cent by 2020-21 – making it harder for businesses to invest.

The IFS say that working people would be hit with lower wages and higher prices by Labour’s tax rises. ‘In the longer term, much of the cost [of tax rises] is likely to be passed to workers through lower wages or consumers through higher prices’.

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