Local MP, Greg Hands, has welcomed new figures showing that 345 fewer people are relying on Jobseeker’s Allowance in Chelsea and Fulham, compared to this time last year. Since 2010, the number of local people on unemployment benefits is down by 693– a 36% drop. Additionally, the number of people in work in London as a whole is up by 399,000 since 2010.
The creation of these new jobs as been helped, in part, by the Employment Allowance, which reduces the cost to businesses of employing people. The Employment Allowance, introduced by the Conservative led Government in April, takes up to £2,000 off the National Insurance bill of every employer, including all businesses and charities.
The allowance means a business could now hire someone on £22,400 a year, or four people working full-time on the minimum wage, without paying any employer national insurance at all. In total up to 1.25 million employers will benefit from the allowance, with over 100,000 of these in London.
Furthermore, nationally employment is up by 1.8 million since the election, and the private sector has created two million jobs since the election. In the three months to April 2010, there were 28.842 million people in employment. In the three months to May 2014 there were 30.643 million people in work.
Greg Hands said: “It’s excellent news that since 2010 there are 693 fewer people in Chelsea and Fulham relying on Jobseeker’s Allowance. That means nearly 700 more people with the prospect of a better and brighter future ahead of them.
“This economic good news is not just confined to my constituency, but is bringing benefits across the country. I’m delighted that 1.8 million more people across Britain are now in work than was the case under the last Labour Government. As these figures show the Conservatives’ long-term economic plan is working, cutting the tax on jobs and backing local businesses to create more jobs. We need to stick to that plan. It’s the only way to ensure that we keep growing the economy and creating jobs, so that more families can have the security of a job and a regular pay packet.”