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UK employment at record high

Apr 25
 
Tags: UK: London
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The UK jobs market has continued to grow, with 457,000 more people in employment in February 2019 than in the same month last year, according to new figures from the Office for National Statistics (ONS). 

Indeed, levels of employment in the UK remained at a record high in February, hitting 76.1 per cent. Meanwhile, unemployment stands at 3.9 per cent - the lowest rate since the 1970s.

This means there are now 1.1 million fewer unemployed people in the UK than in 2010. Meanwhile, youth unemployment has almost halved during this time. 
Minister of state for employment Alok Sharma said: “The UK jobs market continues to go from strength to strength, proving the underlying resilience of the British economy.

“But we must not take this for granted. We need to work urgently to get behind a Brexit deal that protects this jobs record and gives employers the certainty to continue to invest in their workforce and boost wages.”

He also welcomed the news that wages have now outpaced inflation for 13 consecutive months, with real wages rising by 1.6 per cent year-on-year.

Matthew Percival, head of employment at the Confederation of British Industry (CBI), described the news as “positive”, but nodded to the still uncertain status of Brexit as a potential future stumbling block. 
He said: “Although securing a Brexit extension means we have averted an economic crisis, politicians must now come together and avoid a 'no deal' scenario or risk impacting the UK’s stellar labour market.”

The ONS also revealed that in the first quarter of 2019, there were an estimated 852,000 job vacancies in the UK - which is 32,000 more than one year earlier. Vacancies in the human health and social work sector made up 15.6 per cent of all vacancies in the UK, with a total of 133,000 vacancies.

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