Unemployment has dropped to its lowest rate since 2005 while the employment rate has stayed at a record high of 74.2%.
Official figures from the Office for National Statistics released on 15 June show the unemployment rate now stands at 5.0% and there are nearly 31.6 million people in work.
There are nearly half-a-million more people in work compared to a year ago, with wages before bonuses up by 2.3% in the same period. The growth in employment is being driven by full-time work.
Today’s labour market statistics also show:
- the female employment rate is still at 69.2%, the highest since records began in 1971
- there are around 750,000 unfilled vacancies in the economy at any one time
- at 5.6%, the proportion of 16 to 24 year olds who have left full-time education and are unemployed has never been lower
Read the Labour Market Statistics – June 2016 from the Office for National Statistics.
Secretary of State for Work and Pensions Stephen Crabb said:
“Secure employment and a decent wage are key to transforming the life chances of people right the way across the country, so I’m delighted to see another strong set of figures this month.
“There are more people in work than ever before and wages are continuing their upward climb, which is great news for hardworking families who have seen a rise in their living standards over the past year.”
“Our economic plan is delivering jobs and security right across the UK.”