Employment and living standards continue to rise

During the Budget, the Chancellor confirmed the latest strong jobs figures. Once agin they show a large increase in employment and drop in unemployment, as well as an improvement in wages. The numbers are summarised below: 

  • Employment: up to 30.9 million, almost 2 million more jobs than in 2010 
  • Unemployment: down to 1.86 million, equivalent to just 5.7% of the working population; number of people claiming benefit at its lowest level since 1982;  unemployment has halved in Tooting
  • Wages: total pay is up 1.8 per cent, well above inflation which now stands at 0 per cent
  • Living standards: now confirmed by 3 separate independent agencies to be back to their 2010 levels and rising strongly this year.

 

Looking at the breakdown of these figures:

  • 80% of new jobs created are full-time and 80% are in skilled occupations
  • Youth unemployment is down 200,000 in the UK since 2010
  • Long-term unemployment is down 160,000 since the last election
  • The number of women in work is at a record high of 14.5 million.

 

Thanks to the Conservatives' long-term plan, the economy continues to recover strongly, and make progress towards our long-term goal of full employment, where everyone who wants to work will have a job.

Restoring Britain's economy has required difficult decisions and the job is only half done, but improvements are coming through strongly now, and given another Term, the Conservatives will complete the transformation of Britain to a competitive, prosperous country.