Youth unemployment rate falls to record low as wages rise

 

Figures released today show that unemployment has remained at its lowest rate in more than four decades. Meanwhile, youth unemployment has fallen to its lowest rate since records began. Latest figures show that wages are continuing to rise faster than prices, helping families keep more money in their pockets.

Employment has increased in Yorkshire & the Humber, with 2 579 635 people in work – an increase of 198 635 more people in work since 2010. Craig has welcomed the new figures which show that, in Calder Valley the number of people who are unemployed has fallen by 624 – a 28 per cent drop – since 2010.

 

Craig said:

 

 “Under the Conservatives, the unemployment and youth unemployment rates are at record lows.  This means more people have the security of a good job and a regular pay cheque. Thanks to our reforms, we are helping more people into work – and through our modern Industrial Strategy, we are backing businesses to create jobs across the whole country. Wages are continuing to rise faster than prices, meaning pay packets can go further.

 

 “Labour don’t know how to handle the economy and we know what that means from last time – more debt, higher taxes and fewer jobs. We will all pay the price for that.”

 

Esther McVey MP, Secretary of State for Department of Work and Pensions, said:

 

“We now have the lowest unemployment for forty years and we are continuing to see real terms wage growth. I’m especially proud that our youth unemployment rate is at a record low, falling by over 45% since 2010 - opening up career opportunities for our next generation. We continue to back businesses to create good jobs and opportunities in every part of the country and for all ages.

 

“In stark contrast to our employment record, shockingly, under the previous Labour Government, the number of households where no one had ever worked nearly doubled. With over three million more people in work since 2010 – that’s 1000 more people into work each and every day - the Conservatives will continue to help people build a better future for themselves and their families.”