17 OCT 2018

Unemployment

New figures show that youth unemployment has halved since 2010, whilst the unemployment rate remains at its lowest since 1975, and real wages grew for the seventh consecutive month, helping families have more money in their pockets.

Since 2010 the number of young people out of work has more than halved, and the unemployment rate is at a 43-year low – meaning more people have the security of a job and are able to provide for their families. The number of claimants in Henley constituency is 25 lower than August 2018.

Key statistics

  • Employment: 32.39 million (up 289,000 over the last year and up by 3.35 million since 2010).
  • Employment rate: 75.5 per cent (up 0.4 points over the past year and up 5.3 points since 2010).
  • Unemployment: 1.36 million (down 79,000 over the past year and down by 1.15 million since 2010).
  • Unemployment rate: 4.0 per cent (down 0.3 points over the past year and down 3.9 points since 2010) – the lowest since 1975.
  • Wages: Average weekly earnings for employees in real terms increased by 0.7 per cent compared with a year earlier.
  • Youth unemployment: There are over 475,000 fewer young people out of work since 2010 – a reduction of over 50 per cent.

Other useful statistics:

  • Latest data shows that wages increased at their fastest pace in nearly ten years. And wages are continuing to rise faster than prices – this is good news, but there is more to do.
  • The rate of employment is 75.5 per cent – a near record high – meaning more people are in work with the security of a regular pay packet.
  • The unemployment rate is 4.0 per cent – the lowest since 1975.
  • Youth unemployment has fallen by 50.1 per cent since 2010 – and the proportion of young people who are unemployed and not in full time education is at a record low of 4.3 per cent.
  • The number of workless households is down 964,000 – helping to make sure everyone gets the best start in life.
  • Almost 600,000 disabled people have entered work over a 4 year period (between Q2 2013 and Q2 2017).
  • The employment rate among ethnic minority groups is now at a record high of 65.5 per cent. This is 73 per cent of the way towards our target to increase the level of BME employment by 20 per cent by 2020.
  • The number of people working full-time is at a record high, with 80 per cent of jobs created since 2010 full-time.
  • There are now over 1.6 million more women in work since 2010.
  • The UK has the 3rd highest employment rate in the G7.

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