Last Updated: 12 December 2018
Created: 12 December 2018
North Swindon MP and DWP Minister Justin Tomlinson has welcomed news that employment across the country is at a record high.
Statistics released by the independent Office for National Statistics reveal that the employment rate is at 75.5% (the highest since records began), with 396,000 more people in employment in the last year and 79,000 more in the last three months.
There are 428,000 more people in full-time work than last year, meaning the annual increase in jobs is “entirely due to more people in full-time employment” – according to the ONS. Since 2010, 80% of the jobs created have been full-time positions.
Unemployment is at 4.1%, with 29,000 fewer people unemployed than last year. The unemployment rate for women is 4% - a record low, and youth unemployment has halved since 2010 to a near record low. Since last year there are also 39,000 fewer people who have been unemployed for more than a year.
Wages have outstripped inflation for the ninth month in a row, rising by 3.3% in the last year – the fastest wage growth in a decade.
The good news is this trend is anticipated to last, with the Office of Budget Responsibility predicting that 800,000 more jobs are to be created by 2023. If this is the case there will be 4.2 million new jobs created in just over a decade.
Locally, both unemployment & youth unemployment have more than halved since 2010, and there are almost 12,000 more people in work today than when Justin was electied.
Justin Tomlinson MP said: “This is yet more fantastic news. More people are in work and feeling the benefit of rising wages. This has only been possible thanks to the Government’s balanced approach to the economy, and it is important that we keep this momentum going.”