Unemployment at its lowest level in four decades

Figures show that the number of people out of work is at a record low. In Stratford-on-Avon constituency, the number of people who are unemployed has fallen by 207 – a 24 per cent drop – since 2010.

Employment has increased in the West Midlands, with 2,798,906 people in work – an increase of 322,906 more people in work since 2010.

Nadhim Zahawi MP has welcomed the new figures, which show that unemployment is at its lowest since 1975 and that the number of young people out of work has fallen by over 447,000 under the Conservatives. 

Nadhim said:

“Under the Conservatives, unemployment continues to fall to record lows. Thanks to our welfare reforms, we are helping more people into work – and through our modern Industrial Strategy, we are backing businesses to create jobs. That means more people benefit from getting up every day to a good job, and more people have the financial security of a regular pay packet to provide for themselves and their families. Labour don’t know how to handle the economy and we know what that means from last time – more debt, higher taxes and fewer jobs. We will all pay the price for that.”

Secretary of State for Work and Pensions, Esther McVey, said:

“With the unemployment rate falling further to just 4%, and youth unemployment down over 45% since 2010, school leavers this week can look forward to a growing jobs market, improving the prospects for their future careers. In fact the UK’s vibrant jobs market is benefiting people across the board. Record rates of ethnic minority people in work also show that more families across our society are benefiting from the security of a job, with wages also on the increase. We have some of the most creative, innovative and hard-working young people in the world and this summer I’ve been urging them to take on a summer job, gaining ‘soft skills’ – or as I call them, essential skills - for their future careers.”

National Statistics

  • Employment: 32.39 million (up 313,000 over the last year and up by 3.34 million since 2010).
  • Employment rate: 75.6 per cent (up 0.4 points over the past year and up 5.3 points since 2010).
  • Unemployment: 1.36 million (down 124,000 over the past year and down by 1.15 million since 2010).
  • Unemployment rate: 4.0 per cent (down 0.4 points over the past year and down 3.9 points since 2010) – the lowest since 1975.
  • Wages: Latest figures show that average weekly earnings for employees in real terms increased by 0.4 per cent excluding bonuses, compared with a year earlier.
  • Youth unemployment: There are over 447,000 fewer young people out of work since 2010 and the proportion of young people who are unemployed and not in full time education is at a record low of 4.7 per cent.