Recruitment

Employment rate at record high as 427, 000 join UK workforce last year

Carly Hacon | 18 April 2018 | 6 years ago

The unemployment rate is currently at 4.2 per cent and has not been lower since 1975.
Official figures out today show that the employment rate is at 75.4 per cent up 0.8 percentage points from 74.6 per cent a year ago and the highest since recordsbegan.

New figures from the Office for National Statistics (ONS) show that 427, 000 more people have moved into employment in the last year, with 32.26 million now in work.

In addition to this the UK has the third highest employment rate in the G7 with the number of people out of work falling by 136, 000 compared to a year ago.

The future of UK employment rates look promising asthere still many job vacancies available, with an average of 815, 000 openings in the economy at any one time.

 

Today’s employment figures also show:

  • The number of people in employment has increased by over 3.2m since 2010
  • The number of workers aged 50 or over has reached a record 10.1m
  • Youth unemployment level has fallen by over 40 per cent since 2010
  • Unemployed young people who are not in full time education is 5. per cent, falling 3.9 percentage points since 2010
  • More than 820, 000 people are now receiving Universal Credit, with 38 per cent in employment
Commenting on this, the secretary of state for work and pensions, Esther McVey, said: Over 1, 000 people have moved into work every day since 2010, and credit has to be given to the businesses who have created those jobs and the individuals who are taking those opportunities.

day by day we are helping people turn their lives round by getting into employment. Jobs are key to transforming lives and work is the best route out of poverty.

“This month we have again increased the personal allowance and taken more people out of paying tax all together making sure people can keep more of what they earn.

this comes as we have reformed welfare to make work pay, backed businesses to take more people on, and built a stronger, fairer economy. But we want to help even more people benefit from a well-paid job.

If you’re a first-time employer, use our essential three-part guide on recruiting your first member of staff:

Related Topics

How to Write a Good Job Advert: 5 Ways to Make People Apply For Your Roles
20 April 2023

How to Write a Good Job Advert: 5 Ways to Make People Apply For Your...

Read More →
5 Ways to Save Costs of Recruitment
19 April 2023

5 Ways to Save Costs of Recruitment

Read More →
Can I Ask Job Candidates to Carry Out Sample Tasks?
17 April 2023

Can I Ask Job Candidates to Carry Out Sample Tasks?

Read More →
How Much Does a Recruitment Agency Charge?
14 April 2023

How Much Does a Recruitment Agency Charge?

Read More →
How To Write A Thank You Email After A Job Interview
10 November 2022

How To Write A Thank You Email After A Job Interview

Read More →
How to Politely Decline a Job Interview
2 November 2022

How to Politely Decline a Job Interview

Read More →

If you enjoy reading our articles,
why not sign up for our newsletter?

We commit to just delivering high-quality material that is specially crafted for our audience.

Join Our Newsletter