The employment rate remains at a record high

The unemployment rate is now 4.2% – down 0.4% from last year – and the number of people out of work has fallen by 115,000.

Figures released by the Office for National Statistics (NSO) come in the form of Black, Asian and minority ethnic jobs (BAME) is at an all-time high. the BAME the employment gap – the difference between the employment rates of the ethnic minority population and the general population – is at a historic low of 10.1 percentage points.

Secretary of State for Work and Pensions Esther McVey said:

The employment rate has never been higher – with more than 3.3 million people starting work since 2010.

It’s a big UK success story with businesses from Exeter to Edinburgh creating jobs – helping an average of 1,000 people find jobs every day since 2010.

And with the increase in personal tax relief, this government has made sure people keep more of their money before they start paying taxes – which means more take home pay means more money. money in your pocket for you and your family.

Employment Minister Alok Sharma said:

At 75.6%, the employment rate has never been higher, with more people in work than ever before. And with unemployment continuing to decline, we have a strong labor market that has set 17 new employment rate records since 2010.

It is also very good news that the NSO reported that the regular salary exceeded inflation for the third consecutive month.

The increase in personal allowances means the typical base rate taxpayer now pays £1,075 less in income tax than in 2010. Thanks to the National Living Wage, full-time minimum wage workers have benefited an annual increase of £2,000 since 2016.

Today’s figures also show:

  • private sector employment is now 27.04 million, up more than 3.7 million since 2010
  • the number of women in the workplace reaches a record high of 15.26 million
  • youth unemployment has fallen by more than 40% since 2010
  • the number of workers aged 50 and over reached a record 10.18 million
24 new record female employment rates set since 2010.

Separate figures released today show that more than 920,000 people are now on Universal Credit, 37% of whom are in employment. The rollout of Universal Credit remains on track and the business case summary released last week confirms an estimated £8bn boost to the economy each year when it is fully rolled out, with 200,000 people extra taking up a job.

The government reformed welfare to make work pay, encouraged businesses to hire more people, and built a stronger, fairer economy. But we want to help even more people get a well-paying job. This is why we are:

  • introduce a modern industrial strategy to help businesses create better, better paying jobs in all parts of the UK
  • helping people stay on the job longer through our Fuller Working Lives strategy, which helps employers recruit, retrain and retain older workers
  • tackling the inequalities in employment highlighted by the Race Disparity Audit, with targeted support in 20 regions across the country and £90million announced by the Prime Minister to help young people

We also run work experience sessions for students through Jobcentre Plus at over 1,400 schools. The program is being rolled out across the country, to ensure young disadvantaged children aged 12 to 18 have opportunities, including work experience, to learn about the world of work and consider future career options. So far, the partnership between Jobcentre Plus and local schools has resulted in approximately 12,000 sessions for students, parents and teachers helping to prepare students for the world of work.

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