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Job market remains strong
Labour market statistics released today show the number of people in work is up by 233,000 over the last year.
This quarter saw employment fall by 9,000 from its previous record high, but the underlying trend in employment remains upwards.
Nearly three quarters of working age people in the UK are in work, well above the European average and one of the highest figures on record.
Secretary of State for Work and Pensions Andrew Smith said:
“Compared to this time last year there are nearly a quarter of a million more people in work, vacancies remain high and unemployment is down. The level of redundancies this quarter was the lowest for six years.”
He said that UK unemployment is now at its lowest level since the mid-1970s:
“We have achieved this through economic stability combined with targeted help for those jobseekers who need it most, particularly the long-term unemployed, lone parents and those with disabilities.
“It is this sound economic management, together with programmes such as the New Deal, that have virtually eradicated long-term youth unemployment and cut overall long-term unemployment by three quarters since 1997.”
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