Unemployment Rate Hits 44-Year Low

The Office for National Statistics (the ONS) has confirmed that unemployment has fallen to a 44-year low. Unemployment fell to 3.9% from last month’s figure of 4.0%, the lowest level since 1975. The number of people in employment has also increased by 222,000 people to 32.7 million, the highest figure on record.

Alok Sharma, the Minister of State for Employment, said in a statement:

“Today’s employment figures are further evidence of the strong economy the Chancellor detailed in last week’s spring statement, showing how our pro-business policies are delivering record employment.

2019 has continued to be a record breaker, with the employment rate topping 76% for the first time, record female employment and unemployment falling below 4% for the first time in 44 years.

Our jobs market remains resilient as we see more people than ever before benefiting from earning a wage. By backing the government’s Brexit deal and giving certainty to business, MPs have the chance to safeguard this jobs track record.”

Honda Cut 3,500 Jobs in Swindon

Greg Clark, the Secretary of State for Business, has said that the announcement by Honda of 3,500 job losses is “devastating” and pledged Government help for the Swindon area. Honda said that the job losses weren’t Brexit related and was instead because of global market changes.

Clark said in a statement:

“Honda have announced, as part of a global restructuring, plans to close their Swindon plant in 2021; and instead manufacture and export the new Civic model into Europe from Japan. As Honda have said, this is a commercial decision based on unprecedented changes in the global market. Regardless, this is a devastating decision for Swindon and the UK.

This news is a particularly bitter blow to the thousands of skilled and dedicated staff who work at the factory, their families and all of those employed in the supply chain.

I will convene a taskforce in Swindon with local MPs, civic and business leaders as well as trade union representatives to ensure that the skills and expertise of the workforce is retained, and these highly valued employees move into new skilled employment.

The automotive industry is undergoing a rapid transition to new technology. The UK is one of the leaders in the development of these technologies and so it is deeply disappointing that this decision has been taken now.”

Rebecca Long Bailey, the Shadow Secretary for Business, said in a statement:

“This is devastating news, first and foremost for Honda employees and their families, but also for the jobs across the supply chain and the impact on the local economy in Swindon.

This government has failed to create an environment of business confidence. The Tories’ austerity programme has failed workers and businesses, and they continue to show a total lack of vision or plans for investment in our future.

With Honda saying Brexit was not a factor, this Tory government shoulders yet more responsibility for failing to create an environment of business confidence. Businesses have lost faith in the government’s austerity programme and total lack of vision or investment for our future.”

UK Employment Reaches Record High

Figures released by the Office for National Statistics have shown that employment has reached a record level, reaching a figure of 32.54 million people which is 75.8% of working age people with a job.

Alok Sharma, the Minister of State for Employment, said in a statement:

“Once again, we see a new record employment rate in the UK, 75.8 per cent, with more people in work than ever before. UK workers also got a much needed pay boost before Christmas with wages outpacing inflation for the tenth month in a row in November, growing at the fastest rate in a decade.

There are 328,000 more people in work over the past year, almost entirely driven by full-time jobs as the government delivers an economy that works for the British people.

Our pro-business policies have helped boost private sector employment by 3.8 million since 2010, and as the Resolution Foundation’s latest report shows, the ‘jobs-boom has helped some of the most disadvantaged groups find employment’, providing opportunities across society”.

UK Employment Rate Reaches Record High but Unemployment Rises

Figures released today from the Office for National Statistics have shown that the level of employment in the UK has reached a record high. The figures show that 402,000 people have moved into employment over the last year and the unemployment rate has remained at 4.3%. Unemployment has though risen for a second month running, increasing concerns of a slow-down in the employment market.

Esther McVey, the Secretary of State for Work and Pensions, said:

“Getting a job means securing an income for a family and the chance to build a better future. That’s why up and down the country we are doing all we can to help people into work. And from next month, we’ll be taking thousands more people out of paying tax and also increasing the National Living Wage, benefiting those on the lowest pay and making sure they keep more of what they earn. In fact by raising the National Living Wage we have ensured that the lowest earners have seen their wages grow by almost 7% above inflation since 2015”.

Margaret Greenwood, the Shadow Secretary of State for Work and Pensions, said:

“Many people are struggling with low pay and insecure work and the rise in unemployment is further bad news. With eight million people in working households living in poverty and the cost of basic essentials remaining high, the Spring Statement was a missed opportunity for the Government to take the urgent action needed. The Government has also failed to close the employment gap faced by women, disabled people and BAME groups, who have too often borne the brunt of austerity cuts”.

UK Unemployment Rises but Wage Growth Increases

The latest figures released by the Office for National Statistics, ONS, today have shown the first increase in unemployment for two years along with a rise in wage growth. Although the unemployment rate increased the number of people in employment also rose compared to the last quarter’s figures.

The unemployment rate increased by 0.1% to 4.4% in the last quarter of September to December 2017, whilst the number of people in employment increased by 88,000 to 32.15 million people. Wage growth also increased by 2.5% over the last quarter.

ONS Figures Show Unemployment at 40-Year Low

Figures released today by the Office for National Statistics, the ONS, have shown that the number of unemployed fell by 59,000. The fall means that unemployment rate stays at 4.3%, the lowest rate in forty years. The number of people in employment fell by 14,000 against the last quarter, but remains 279,000 higher than a year ago.

Damian Hinds, the Minister for Employment, said:

“The strength of the economy is driving an increase in full-time, permanent jobs and a near-record number of people are now in work thanks to the government’s welfare reforms. When unemployment fell to 5% early last year, many people thought it couldn’t get much lower, and yet it now stands at 4.3%.

Everyone should be given the opportunity to find work and enjoy the stability of a regular pay packet. We’ve cut income tax for 30 million people since 2010, meaning people keep more of their money each month”.

Debbie Abrahams, the Shadow Secretary of State for Work and Pensions, said:

“Today’s stats are further evidence of Tory economic failure, only a week out from their next Budget. Both employment and real wages are falling while the price of household essentials balloons, leaving millions of people worse off than they were in 2010.

Over seven million people live in poverty in working households. Labour will introduce a £10 an hour Real Living Wage, scrap the public sector pay cap and reform the government’s failing Universal Credit programme”.

UK Unemployment Falls to 4.3% – the Lowest Since 1975

Figures released today on the ONS (the Office for National Statistics) have shown that unemployment has fallen by 75,000 over the previous three months. The fall has meant that the rate of unemployment has fallen from 4.4% to 4.3% and a spokesman for the ONS said that the figures “suggest the labour market continues to be strong”.

The figures also show that there are now 32.14 million people who are in work which is 181,000 higher than in the previous quarter and 379,000 higher than in the previous year.

UK Unemployment Rate Remains at 4.7%

The Office for National Statistics (ONS) has confirmed that unemployment has fallen to 1.56 million, although remaining at 4.7%. The number of people who are employed has increased to 31.84 million, the highest on record. The figures released also show that the number of long-term unemployed has fallen to 389,000, the lowest figure since 2008.

Damian Green, the Secretary of State for Work and Pensions, said in a statement:

“This is yet another strong set of figures, with unemployment at a rate that hasn’t been beaten since the 1970s and more vacancies than ever before.

More people are finding full-time jobs and average wages have grown yet again, meaning more families have the security of a regular wage.

However, there is always more to do. That’s why we’re creating a welfare system that rewards work through Universal Credit, which helps claimants keep more of the money they earn”.

UK Unemployment Falls to Lowest Level Since 2005

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The Office for National Statistics, ONS, has confirmed that unemployment has fallen by 37,000 to 1.6 million people in the three months ending September 2016. The fall means that unemployment is now at an 11-year low, with 31.8 million people currently in work.

Damian Hinds, the Employment Minister, said:

“Yet again we have a strong set of figures, with employment continuing to run at a record high and unemployment falling to a 11-year low. Growth is being fuelled by full-time professional jobs while wages are continuing to perform strongly, which underlines the resilience of the UK labour market.

The measures we have taken have put our economy in a position of strength, and we will work to ensure more people can benefit from these opportunities as we build a country that works for everyone”.