Jobs records smashed again as 33m in work
Women behind the 359k increase
BRITAIN’s booming jobs market has smashed a string of records as increasing numbers of women join the workforce, official figures showed yesterday.
Employment rose by 359,000 to an all-time high of 32.9million in the year to November, with full- time workers and women responsible for most of the increase.
At the same time, unemployment held firm at 3.8 per cent, the lowest level since 1974. And wages continued to rise faster than inflation in a boost to living standards for millions of workers.
The figures, released by the Office for National statistics (ONs), sparked optimism ahead of Brexit and were hailed by Chancellor sajid Javid as ‘welcome news for the new year’.
Women made up 88 per cent of the annual rise in employment, with an estimated 317,000 joining the workforce.
It was the equivalent of an extra 868 women in work per day and took the total to a record 15.58million. Of the newly-employed, 202,000 were aged 50 and above.
The ONs said the surge was partly the result of the controversial hike in the women’s state pension age to 65.
The figures also showed the number of people who were self-employed had passed five million for the first time ever.
Wages grew by 3.2 per cent in the year. Mr Javid said: ‘We want to do even more to help with the cost of living. That’s why we’re cutting national insurance for 31million people
increasing the national living wage by a record amount from April.’
The employment data represents a snapshot of the British economy before the December 12 general election, which saw Boris Johnson win a thumping Tory majority.
Experts expect business confidence has grown since then, with Facebook yesterday announcing that it was set to create another 1,000 jobs in the UK.
Business groups hailed the figures but urged Mr Javid and Mr Johnson to keep their promises to upgrade infrastructure such as broadband networks, to help the growing numbers of sole traders.
Anna Leach, deputy chief economist at the Confederaand tion of British Industry, said: ‘The labour market is in good shape as the employment rate hits a new record high.
‘The number of people in self- employment has also pushed above five million for the first time, showing the increasing importance of flexible working.
‘For this to continue, there must be the right digital infrastructure in place with the roll out of full fibre [broadband] for every home and business.’
Karen Ward, chief market strategist at JP Morgan Asset Management, added: ‘ The sizeable gain in employment in the three months to November shows businesses are coping with Brexit uncertainty.’
The ONs figures also revealed there are now 805,000 job vacancies, 49,000 less than a year ago. These included 137,000 in health and social care, which accounted for 17 per cent of openings – the most of any sector.
Vacancies for professional, scientific and technical jobs rose the most, by 149,000.
‘Labour market in good shape’ 3.8%
UK unemployment rate (lowest since 1974) 7.5% eurozone unemployment rate 76.3%
UK employment rate (highest on record) 32.9m
record number of people in work 359,000rise in employment in past year 317,000 rise inwomen in work in past year 202,000
rise in women over 50 in work in past year 15.58m record number of women inwork 1.15m rise in employment since Brexit vote in 2016 9.26m record number of womenworking full-time 3.8mrise
in employment since Tories came to power in2010