Record Rise of 2.58m in South West Employment Rate
The employment rate in the South West has increased by a record 2.58 million in three months, according to figures published by the Office for National Statistics (ONS) this morning.
However while unemployment did fall in this three month period, the figures also show that 6,000 more people in the South West are now unemployed since last year meaning the the South West is the only region to record a rise in its unemployment during th whole year period.
Nationally the ONS figures show that the employment rate is now at 72.3%, the highest it has been since the recession began in 2008 with job numbers increasing by 105,000 on the quarter to reach 30.19 million for November 2013 to January 2014.
The number of unemployed people also fell by 63,000 on the quarter and by 191,000 on the year to reach 2.33 million for November 2013 to January 2014.
The largest gains have been made in private sector employment which has increased by 1.73 million since 2010 which the government claims is the result of their business and enterprise reforms.
Commenting on the figures for the South West, Employment Minister Esther McVey said: “The South West saw the number of people in work hit a new record high of 2.58 million in the three months to January 2014, which shows that the growing economy is helping people to find a job, turn their lives around and have the security of a regular wage.
“The rise in employment nationally is being fuelled by businesses and entrepreneurs across the country who are feeling increasingly confident with the improving economy. They should be congratulated for creating over 1.7 million private sector jobs since 2010 – that’s over 1000 more people in private sector jobs every day.”
The figures also show that the number of young people in work has increased by 43,000 in the last three months while the number of unemployed young people also fell by 29,000 and has been falling now for the last six months.
However, Labour opposition have said that more still needs to be done for unemployed young people in the UK as, while falling, youth unemployment is still high.
Rachel Reeves MP, Labour’s Shadow Work and Pensions Secretary, responding to this morning’s Labour Market Statistics, said: “While today’s fall in overall unemployment is welcome, the figures show 912,000 young people are unemployed and long-term youth unemployment has doubled under David Cameron. It’s clear tens of thousands of young people are not feeling any recovery at all.
“There has also been a worrying rise in the number of people unemployed for over two years.
“Today‘s figures also show that working people facing a cost-of-living crisis and that prices are still rising faster than wages under David Cameron.
“The Government should use today’s Budget to introduce Labour’s Compulsory Jobs Guarantee to get young people and the long-term unemployed off benefits and back to work.”
The number of people claiming Jobseeker’s Allowance (JSA) fell by over 363,000 on the year, which is the largest annual fall since 1998. The number of young people claiming JSA has been falling for the last 21 months.
The latest figures also show the number of job vacancies increased in the last three months by 23,000 to 588,000,meanwhile private sector pay rose by 1.6%.
