Employment rate reaches joint record high

people walking to work employment
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UK employment rate has reached a joint record high, according to the Office of National Statistics (ONS).

The employment rate currently stands at 75.3 per cent – up from 74.6 per cent in 2017. The current rate is the joint highest since records began.

ONS figures show that 402,000 more people moved into employment last year. The unemployment rate has not been lower since 1975, and the number of people out of work is down by 127,000 compared to a year ago.

Female employment is also at a record high of 70.9 per cent, with over 15 million women in work – a rise of 234,000 on the year.

The government is also implementing further ways to help people benefit from working. In April this year, the National Living Wage is set to increase from £7.50 an hour, to £7.83, equating to a £600 annual pay rise for full-time workers on basic pay.

Also in April, the amount of money people can earn before they start paying income tax will rise.

Secretary of State for Work and Pensions, Esther McVey said, “Getting a job means securing an income for a family and the chance to build a better future.”

“That’s why up and down the country we are doing all we can to help people into work.”

“And from next month, we’ll be taking thousands more people out of paying tax and also increasing the National Living Wage, benefiting those on the lowest pay and making sure they keep more of what they earn.”

“In fact by raising the National Living Wage we have ensured that the lowest earners have seen their wages grow by almost seven per cent above inflation since 2015.”

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Alison is the Digital Content Editor for WeAreTheCity. She has a BA Honours degree in Journalism and History from the University of Portsmouth. She has previously worked in the marketing sector and in a copywriting role. Alison’s other passions and hobbies include writing, blogging and travelling.

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