Figures released today show that unemployment has remained at its lowest rate in more than four decades. Meanwhile, youth unemployment has fallen to its lowest rate since records began. Latest figures show that wages are continuing to rise faster than prices, helping families keep more money in their pockets.
In London, employment has risen, with 4,734,877 people in work – an increase of 951,877 more people in work since 2010.
Boris Johnson MP for Uxbridge and South Ruislip has welcomed the new figures which show that, in his constituency, the number of people who are unemployed has fallen by -1,044 a -57% per cent drop – since 2010.
Mr Johnson said of these numbers:
“The Conservative government economic strategy has bared fruits, with the unemployment rates at a record low. This means more security and more options to all workers. With our reforms, more people are getting into work, in part thanks to our modern Industrial Strategy which have allowed businesses to create new jobs across the country. Wages are rising faster than inflation, meaning in real terms, there is more money in people’s pockets.
We’ve all payed the price for the past Labour government’s economic policy which resulted in more debt, higher taxes and fewer jobs. It is clear they still haven’t learned how to handle the economy.”
Following the results, Esther McVey MP, Secretary of State for Department of Work and Pensions, said:
“We now have the lowest unemployment for forty years and we are continuing to see real terms wage growth. I’m especially proud that our youth unemployment rate is at a record low, falling by over 45% since 2010 - opening up career opportunities for our next generation. We continue to back businesses to create good jobs and opportunities in every part of the country and for all ages.
“In stark contrast to our employment record, shockingly, under the previous Labour Government, the number of households where no one had ever worked nearly doubled. With over three million more people in work since 2010 – that’s 1000 more people into work each and every day - the Conservatives will continue to help people build a better future for themselves and their families.”