Unemployment remains at a 40-year low

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Unemployment remains at a 40-year low, according to figures released by the Office of National Statistics.

The official figures show that unemployment has remained at 4.3 per cent – the lowest rate since 1975.

The figures also show that employment remains at a near record high, with 32 million people in work.

Increases in full-time and permanent work are behind the figures, with the number of zero hour contracts falling by 20,000 in the last year alone.

Statistics also show that the number of workers aged 50 and above has reached almost ten million – a record level. Youth unemployment has also fallen by 40 per cent since 2010 and the proportion of young people who are unemployed and not in full time education remains below five per cent.

Minister for Employment, Damian Hinds said, “The strength of the economy is driving an increase in full-time, permanent jobs and a near-record number of people are now in work thanks to the government’s welfare reforms.”

“When unemployment fell to five per cent last year, many people thought it couldn’t get much lower, and yet it now stands at 4.3 per cent.”

“Everyone should be given the opportunity to find work and enjoy the stability of a regular pay packet.”

“We’ve cut income tax for 30 million people since 2010, meaning people keep more of their money each month.”

About the author

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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