Don't waste time
Empower your teams with integrated Time and Attendance, HR and Payroll solutions
Employment in the UK has reached a record high, according to new findings.
Research published by the Department of Work and Pensions (DWP) revealed that there are now a record 31.4 million people in work – up 521,000 compared with this time last year.
Currently, there are a record 776,000 job vacancies, thanks to an upturn in the economy.
The report also revealed that the unemployment rate is the lowest in a decade, at 5.1 per cent. The proportion of young people who have left full time education and are unemployed has fallen to 5.6 per cent – the lowest on record.
Speaking about the findings, Secretary of State for Work and Pensions Iain Duncan Smith said: “February is another record-breaking month with the employment rate now at the highest it has ever been and wages continuing to grow.
“At a time when we are seeing the number of workless households at its lowest ever, this is further proof that our economic and welfare reforms are delivering more security and providing opportunities that give families the best chance in life.”
According to the figures, the employment rate of older people, aged 50 to 64, is at a new record high of 70.1 per cent.
The prospects for younger people who have left full-time education have also improved, with the employment rate for this group of people at a record high of 74.7 per cent.
Gender equality is also improving, with a million more women are in work since 2010.
The female employment rate is also at a record high and 150,000 more disabled people have found work over the past 12 months.