Figures released today show that in London, there are 4,685,979 people in work – meaning that, under the Conservatives, 902,840 more people have been able to access the security of a job since 2010.
The figures show that the number of people in work has reached a record high, while the unemployment rate is at its lowest since the mid-1970s, at 3.8 per cent.
And with wages rising at their fastest pace in 11 years – ahead of inflation – people’s pay packets can go further.
Behind every employment number is a person and a family whose self-esteem, mental wellbeing, economic circumstances and life chances are all vastly improved by being in the workplace.
Croydon Central Parliamentary Candidate, Mario Creatura has welcomed these figures, saying:
“These figures show our balanced approach to the economy is working. We are backing businesses across the country to create more, higher-paying jobs through our modern Industrial Strategy.
“There are a record number of people now in work and the Conservatives will continue to help people build a better future for themselves and their families.
“Labour don’t know how to handle the economy and would hurt the people they claim they want to help, just like last time.”
Alok Sharma, the Minister for Employment, responded to the latest employment figures, saying:
“Wages outpacing inflation for 16 months in a row, more people in work than ever before and joint-record female employment, means better prospects for many thousands of UK families and shows the continued resilience of the UK labour market.
“With unemployment still falling, remaining at its lowest level since 1974, its clear that UK employers continue to have confidence in our hard-working workforce.
“And with many schools breaking up this week there are some great opportunities for young people to get a taste of work over the summer – boosting their CVs as well as their bank balances as they prepare for their future careers.”
- Wages: Average weekly earnings for employees increased by 3.6 per cent compared with a year earlier growing by 1.7 per cent after adjusting for inflation – meaning people have more money in their pockets.
- Employment: 32.75 million (up 354,000 over the last year and up by 3.70 million since 2010).
- Employment rate: 76.0 per cent (up 0.4 points over the past year and up 5.8 points since 2010).
- Unemployment: 1.29 million (down 116,000 over the past year and down by 1.22 million since 2010).
- Unemployment rate: 3.8 per cent (down 0.4 points over the past year and down 4.2 points since 2010) – the lowest rate since 1974 and halving since 2010 (8.0 per cent).
- Youth unemployment: There are 446,000 fewer young people out of work since 2010 – halving since 2010.
- Women: The number of women in work is at a record high of 15.47 million – and the employment rate for women is at a record high of 72.0 per cent. There are 1.84 million more women in work since 2010. (ONS, Labour Market Overview, 16 July 2019, link).