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CHANGE: Unemployment in the UK

THE PROPORTION of young people who are unemployed is at a new record low, as more than 120,000 more young people have a job than in 2010.

This comes as over 3.3 million more people have entered work since 2010, meaning an average of 1,000 more people in work every day.

The latest figures from the Office for National Statistics also revealed the employment rate remains high, at 75.5%, with over 3.3 million more people in work since 2010.

On top of this, figures show the majority of jobs created since 2010 are full time, permanent roles that are in higher skilled occupations, which typically bring higher earnings – all ambitions of the government’s Industrial Strategy which seeks to create better, well-paying jobs fit for the future.

According to the figures, unemployment has fallen across all regions of the UK since 2010, with today’s figures showing that the West Midlands, London and Wales in particular have seen the largest employment growth in work in the last year.

Work and Pensions Secretary Esther McVey said: "This month’s figures show youth unemployment has fallen by 50 percent since 2010, down to a new record low, showing our welfare reforms are working and giving young people a better future.

"We want to empower young people; open up new career opportunities – deliver a brighter future for them."

Minister of State for Employment Alok Sharma commented: "I am particularly encouraged that wages continue to be on the up, outpacing inflation for the seventh month in a row with regular pay up 3.1% on the year – the fastest growth in almost a decade.

"And with unemployment at its lowest since the 1970s, since 2010 there are more people with the security of a job, more people with a regular salary, and more people able to support their families - and that is thanks to action this government has taken to build an economy that works for everyone."

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