New figures from the Office for National Statistics show there are now 1.75 million more people in work than at the last election, and wages are rising above inflation, signifying a major moment in the British economic recovery.
Since 2010, the Government has been backing businesses with better infrastructure and lower jobs taxes, and have capped welfare so the economy delivers for people who want to work hard and play by the rules.
The ONS figures show there are now 1.75 million more people in work than at the last election and that wages are rising above inflation. Private sector employment has risen by 637,000 in the past year and it is particularly pleasing that full time jobs accounted for 95 per cent of the rise in employment over this period. Overall, there are now 30.8 million people in work, a record high, with a record number of women also in work. Each one of those jobs is another family who can now have more peace of mind about their future.
Private sector regular pay also rose by 2%, compared with inflation of 1.3%, with strong wage growth in the manufacturing and business services industries according to the Office of National Statistics (ONS).
Greg Hands said “This is a major moment in the British economic recovery with a record number of people in work and wages rising above inflation. It’s a clear sign our long-term economic plan is working, building a stronger, healthier economy.
"Specifically in my constituency of Chelsea and Fulham, I am delighted that these latest figures showed a reduction in unemployment with 348 fewer jobseekers claimants since last year, a fall of nearly 24% compared to 2013.”
Greg added: “We know there is more to do and that families are still feeling the impact of Labour’s Great Recession. This is why we need to stick with our long-term economic plan that is helping deliver economic security for hardworking taxpayers across our country.
“Labour left nearly half a million more people without a job, and Ed Miliband predicted that our economic plan would ‘lead to the disappearance of a million jobs’. But there are now more than 1.75 million more people in work. This shows Ed Miliband is just not up to the job and Labour don’t have a plan for Britain’s future. They would put all the progress we have made at risk with their call for more spending and more borrowing.”
Work and Pensions Secretary Iain Duncan Smith said: “These remarkable figures show that our long term economic plan to create a better more prosperous future for Britain is working. Behind them are countless stories of individual hard-work and determination, with more people than ever before feeling financially secure.