Unemployment Rate Lowest In Over 40 Years
Today’s figures also show the employment rate has remained at a record 75.6%, with 197,000 more people in work compared to October to December 2017.
And with the number of black, Asian and minority ethnic (BAME) people in work up 475,000 since 2015, the government is making rapid progress on its commitment to increase BAME employment by 20% by 2020.
The Secretary of State for Work and Pensions, Esther McVey, said:
" Since 2010 we have seen more than 3.2 million people move into work right across the UK. Youth unemployment has fallen by over 40% and the unemployment rate has not been lower since 1975.
" Today’s figures once again cement that turnaround, with a new employment rate record of 75.6%, and on average over 1,000 people each and every day, since 2010, getting a job.
" With wages growing faster than inflation and increases in the personal tax allowance, not only are more people bringing home a pay packet but they are keeping more of their hard earned money for themselves and their families.
Figures also show:
- the BAME employment gap has closed to just 10.1 percentage points, a decrease of 1.3 percentage points since 2015 and the lowest the gap has been since the series began in 2001
- the number of people in employment has increased by over 3.2 million since 2010
- there are 806,000 vacancies in the economy at any one time
Unemployment Rate Lowest In Over 40 Years, 15th May 2018, 15:55 PM