Number in employment reaches record high says DWP

THE employment rate is at a joint record high of 75.3% with 32.2 million people now in work according to The Department for Work and Pensions (DWP). In a press release issued to the UK's media they also announced that unemployment is down 3,000 on quarter and at the lowest rate since 1975. If correct, that means at least 10 employment records have been smashed or matched in 2017. The official figures released on 24 February 2017 have shown that the employment rate is at a joint record high of 75.3%, with a record 32.2 million people in work. This is a rise of 415,000 compared to figures in 2017.

Secretary of State for Work and Pensions, Esther McVey, said:- "We had a record breaking 2017 for employment, and I'm delighted to see this trend continue as we enter the New Year. The number of people in work is at an all-time high and the unemployment rate has not been this low for over 40 years. At this time of year, straight after Christmas, people might be feeling a squeeze on their finances. We're determined to help people keep more of what they earn. That's why we've increased the National Living Wage, introduced Universal Credit to offer greater flexibility and taken millions of people out of income tax altogether by raising the tax free personal allowance."

In 2017, at least 10 employment records were broken. The employment rate and the number of people in work, the number of women in work and black and minority ethnic employment all reached record highs during the year.

Today's employment figures also show:-

► There are a record 810,000 vacancies in the economy at any one time.

► The number of people in employment has increased by over 3 million since 2010.

► The UK has the 3rd highest employment rate in the G7.

► The number of workers aged 50+ has reached a record 10 million.

► Youth unemployment has fallen by over 40% since 2010.

Separate figures also released today show there are 700,000 people claiming Universal Credit as the rollout of the new benefit continues, with 42% in employment.

It is worth noting that estimates of the Claimant Count are no longer included in the ONS statistical bulletin, as they may now be providing a misleading.

For further information, an ONS statement explaining the decision was released on 23 February 2017 and can be found on the ONS website.

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