NEWS: UK Employment Rates Reach New Record High

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

stats for employment rate

 

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).

 

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