North Swindon MP Welcomes New Employment Figures

North Swindon MP and Work & Pensions Minister, Justin Tomlinson, has welcomed new that the number of people in employment has increased again according to the latest Office of National Statistics monthly report.

The number of people in work stands at 32.41 million, up 350,000 on the same period a year earlier. The number of people in full-time jobs continues to rise with 416,000 more people working full-time than last year, while at the same time the number of people in part-time work declines – meaning the annual increase in the number of people in work was entirely due to more people in full-time employment. 81% of jobs created since 2010 are in full-time roles.

Unemployment has fallen by 43,000 over the past year and down by 1.13 million since 2010, with youth unemployment almost halving since 2010.  Unemployment for women is at the joint lowest since comparable records began.

Job Vacancies are at the highest since records began, with 845,000 vacancies between August to October, up 44,000 since last year and up 14,000 from May to July.

The employment rate among ethnic minority groups is now at a record high of 66.9% – and the Government is closer towards its target to increase the level of BME employment by 20% by 2020. Wages have also continued to rise above inflation, meaning people can feel the effect of rising wages.

The trend is set to continue, as the Office of Budget Responsibility have said that employment is expected to be higher than forecast, with 800,000 more jobs forecast to be created by 2023.

Justin Tomlinson MP said: “Once again, this employment data shows the strength of the UK economy; strength which is down to the Government’s balanced approach with more people in work and earning. Since 2010, the UK has created more jobs than a dozen European nations combined, and importantly we've youth unemployment almost halved which is in stark contrast to the situation in countries such as France, Spain, and Italy.”