Saturday, 29 April 2017

Employment at the highest level since records began - worth a detailed analysis of ONS figures

Across the UK 31.84 million people are now in work, 74.6% of the working age population - a record high!
The unemployment rate has fallen to 4.7%, and 5.1% in young people.
The female employment rate is also at a near record high of 69.6%.
The Office of National Statistics has last week published another strong set of figures, with unemployment at a rate that has not been beaten since the 1970s, and more vacancies than ever before.

Since the Conservatives entered government, employment is up by over 2.8 million and there are 767,000 vacancies in the economy, a record high.

More people are finding full-time jobs and wages have grown yet again, with average weekly wages growing by 2.3% including bonuses over the last year. 

There is good news for the North East, and for Tynedale and Ponteland too. Employment in the North East has risen by 10,000 to 1.2 million, a rate of 70.5%. Equally, unemployment  now stands at 83,000, a fall of 21,000 since last year.

In Tynedale and Ponteland our hard work has continued to pay off. Last month there was a total of 510 people unemployed, 35 down since last year and a 58% drop from 2010 when the number stood at 1,084. 

It is great news that more people in the area are finding full-time jobs and that their average wages are growing 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 even more jobs and a welfare system that rewards work through Universal Credit, which helps claimants keep more of the money they earn.

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