NEWS


  • MP WELCOMES LATEST EMPLOYMENT FIGURES AS WAGE GROWTH HITS 3 YEAR HIGH

    Mel Stride

    CENTRAL DEVON MP Mel Stride has welcomed employment figures released today (11/09/18) which show UK unemployment fell by 55,000 in the three months to July. The current unemployment rate of 4.0% is the lowest since 1975. Within the figures, youth unemployment fell by 32,000 to the lowest rate since comparable records began in 1992 and is now down by 48% since 2010. Wages for the three months to July grew ahead of inflation and at the fastest rate for three years.


    Mr Stride, who serves as a Government Minister in HM Treasury, said:


    “Every aspect of today’s figures are very encouraging. Overall unemployment, youth unemployment and long-term unemployment are all down while wages grew ahead of inflation for the fifth consecutive month. Our unemployment rate of 4.0% is now the lowest in 43 years and compares favourably for example with 9.1% in France, 15.3% in Spain and 6% in Canada.”


    Mr Stride also pointed to a record number of job vacancies showing potential for unemployment to fall even further, adding:


    “Vacancies in the three months to August stood at 833,000 – a strong indication that businesses are continuing to grow and take on new staff so hopefully the fall to 4% is not the end of the trend and within the next few months we see unemployment fall even further.”







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