UK employment reaches record high

There are now a record 31.4 million people in work, up 521,000 compared with this time last year, fuelled by a rise in full-time employment. [via]

The unemployment rate is the lowest in a decade, at 5.1 percent, and the proportion of young people who have left full time education and are unemployed has fallen to 5.6 percent, the lowest on record.

Wages before bonuses have continued to grow, with an increase of two percent compared with this time last year and the number of people claiming unemployment-related benefits is at its lowest level since 1975.

Secretary of State for Work and Pensions Iain Duncan Smith said:

February is another record-breaking month with the employment rate now at the highest it has ever been and wages continuing to grow.

At a time when we are seeing the number of workless households at its lowest ever, this is further proof that our economic and welfare reforms are delivering more security and providing opportunities that give families the best chance in life.

Among the record-breaking figures released by the government, the employment rate of older people, aged 50 to 64, is at a new record high of 70.1 percent.

The percentage of young people employed after they have left full-time education is a 10-year high at 74.7 percent.

Over a million more women are in work since 2010 and the female employment rate remains at a record high.

Since the launch of the Disability Confident campaign in 2013, which sees the Government working with businesses so they understand the benefits of recruiting and retaining disabled people, there are now 150,000 more disabled people in work – up 293,000 over the past 2 years.

 

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