Figures today show a record breaking 30.9 million people are now employed, 1.85 million more than in 2010. Importantly, this rise in employment has not been at the expense of job security or wages either: full time jobs represent 95% of the increase in employment over the last year and take home pay is increasing. Since last year, total pay has increased by 2.1% - 1.2% above inflation.
Since the government’s election, the number of people claiming out of work benefits has fallen by nearly 1 million. This positive trend has been shared in East Hampshire with just 0.8% of the economically active population now claiming Job Seeker Allowance (JSA). In absolute terms, this represents a fall from just under 1,000 claimants in 2010 to 393 today. Just as encouraging is the downward trend in youth unemployment, which has fallen by 2.8% over the same period and now stands at 65 people. Nationally, the number of young people claiming JSA is at its lowest since the 1970s.
Damian said:
"It is great to see that more people in both East Hampshire and the UK are in stable employment. As a government we have made some difficult decisions to get the economy back on track – supporting businesses to create jobs, and tackling benefit structures and incentives to ensure work always pays. It is encouraging to see this economic plan having a tangible impact."
Note to Editors
- Employment: 30.9 million (up 608,000 on the year – over 1,600 jobs every day - and up 1.85 million since the election)
- Employment rate: 73.2 per cent
- Unemployment: 1.86 million (down 486,000 on the year and down 648,000 since the election)
- Unemployment rate: 5.7% per cent (lowest since May-July 2008)
- Claimant count: 843,100 (down 366,700 on the year and 671,800 since 2010)
- Out-of-work benefits: The number of people claiming the main out-of-work benefits is 923,000 lower than in May 2010
- Regular pay for employees in GB up 1.7% on year and total pay up 2.1% on year. Annual inflation rate over the same period was 0.9%.