Youth unemployment down 50% since 2010

Youth unemployment has halved since 2010, according to Tuesday’s (16 October) employment figures from the Official for National Statistics.

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.

At the same time, fewer children are now growing up in a home without any adult in work than ever before, 637,000 fewer than in 2010, helping inspire more young people into work themselves.

Britain’s unemployment rate has fallen to 4% - it has not been lower since 1975.

It 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 UK saw a seventh month of real terms pay increases, with regular wages up by 3.1% in August, or 0.7% against CPIH inflation.

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.

Unemployment has fallen across all regions of the UK since 2010, the figures also show.

Responding to the North West figures, Northern Powerhouse Minister, Jake Berry MP for Rossendale, said: “Getting more people into employment and boosting education are central to our Northern Powerhouse strategy that is delivering for the people of the North.

“Since 2010, we’ve seen 619,000 new apprenticeship starts and 176,000 more children are in good or outstanding schools in the North West.

“This is great progress, and working closely with local partners, I’m determined to go even further and secure the brightest future for local families as we leave the European Union.”