MP welcomes fall in unemployment rate
Isle MP, Andrew Percy, has welcomed new statistics which show that unemployment continues to fall.
Last week, the Office for National Statistics (ONS) published UK labour market statistics for August to October 2017. The ONS statistics show that there are 32.08 million people in work, which is 325,000 more people in work than for a year earlier and 3 million more since 2010. Moreover, a million more women are in work since 2010, with the female employment rate close to a record high.
The employment rate is now 75.1 per cent, which is up 0.7 points over the past year and up 4.9 points since 2010. Unemployment is down by 182,000 over the past year - now standing at 1.43 million - and down by over a million since 2010. The unemployment rate is 4.3 per cent, which is down 0.7 points over the past year and down 3.7 points since 2010, which is the lowest since 1975.
Commenting on the statistics, Andrew said: “I’m delighted to hear that unemployment has continued to fall and is now much lower locally then when I took over as our MP. This means that more people are in work and providing for their families. In the Brigg and Goole constituency, there are 943 fewer claimants than in November 2010, which is a -50% change.
“It’s very encouraging to hear that youth unemployment also continues to fall. There are now 416,000 fewer young people out of work since 2010; while, under Labour, youth unemployment rose by 43 per cent.
“It’s also important to note that less than 3 per cent of the people in work are employed on zero-hours contracts. Over the last year, this new employment has been full-time employment, with the number of employees working full-time over the last year up by 323,895. The remainder who use these types of contracts may be using them because, for them, that contact offers the kind of flexibility that they are after.
“As well as getting people back to work, the Government outlined a number of welcome announcements in the Budget for young people and families: the National Living Wage will rise by 4.4 per cent to £7.83, the personal allowance will rise to £11,850, and Stamp Duty has been abolished altogether for all first-time home buyer purchases up to £300,000.”