According to recently released data from the Office for National Statistics, the UK has had one of its most successful years for employment. The rate of people in full- is currently at 74% of the population – the UK’s highest rate since records began in 1971. 31.4 million people have jobs around the country, this figure growing by more than half a million since last year.
Within these figures – women and and youth have seen a significant increase in employment:
- There are 14.66 million women working in the UK, a rise of 1 million people since 2010
- 74.6% of full-time higher education leavers are finding themselves a job after graduation – the highest figure in over a decade
The Department for Work and Pensions points to a rise in full-time jobs as the reason for the growing rates.
Unemployment is also down to 5.1% – it’s lowest rate since 2006, with long-term unemployment falling by 25% to 488,000. Both figures show a pre-GFC low, and indicates a promising slump in people wanting jobs who are out of work.
However, it’s not all positive. Wage growth has begun to lag, falling from 3% in the summer of 2015, to 2.4% in October, and 2% in November (the final month included in the report).