October’s record breaking employment figures show 30.8 million people in work – the highest level on record. Wokingham’s unemployment remains at very low levels, which is welcome news.
This means an average of over 13,000 more people in jobs every single week over the last year.
As well as a record number of women in work and a continued fall in youth unemployment it is encouraging to see that pay cheques are beginning to rise faster than inflation.
Through our welfare reforms, we are helping people to move off benefits and into work – giving hard working people the peace of mind and security that comes with a steady income.
These remain difficult times for families and there is more to do, but the best way to help people break free of welfare dependency is to go on delivering a plan that rewards hard work and creates growth and jobs.
Key achievements of the last four years
• Employment rate at pre-recession level: 73%.
• Unemployment rate: 6%.
• Nearly 1.33 million more people working full time since the election.
• Over 2 million more people working in the private sector since 2010
• Female employment up 774,000 since 2010
• The largest annual fall in female unemployment on record, with the UK seeing the fastest growth in the number of women in work out of all G7 economies.
• JSA 18-24 claimant count down 210,000 since 2010 – below pre-recession level.
• Excluding full-time students, youth unemployment down 163,000 since 2010
• JSA claimant count down 563,000 since the 2010.
• Long-term unemployment down 99,000 since 2010.
• Number of people on the main out-of-work benefits down 855,000 since 2010 – the lowest since 1990.
• A lower proportion of workless households than at any time on record – down more than 400,000 since 2010.
• Two thirds of the rise in employment has been in higher skilled occupations since 2010 – commanding a higher wage.
• Job vacancies nearly at pre-recession levels – over 680,000 at any one time – an increase of 25% on the year.
• Wages are now beginning to increase in real terms – average regular pay (excluding bonuses, in the three months to September) rose 1.3% on the year, with private sector pay up 1.6%. This compares to an increase in the Consumer Prices Index of 1.2% in September.