Biggest fall in unemployment on record

James Brokenshire has warmly welcomed new official figures showing that the number of people claiming Job Seeker's Allowance in Old Bexley & Sidcup has dropped by a half since April 2010.  According to the Office for National Statistics, nationally those claiming JSA has dropped below the one million mark for the first time since 2008 with unemployment falling more rapidly than ever.   In Old Bexley & Sidcup 656 people claimed JSA in August 2014 compared to 1,321 in April 2010. James said the positive new figures demonstrated the number of new jobs being created in Bexley and increasing confidence amongst local businesses.

The Government’s long term economic plan has supported private business to create 74,000 new jobs during the last three months, bringing the total number of jobs created since the last election to 1.8million. In total, 146,000 people have found work during the course of the last quarter reducing the number of people claiming Jobseekers Allowance by 528,000 since 2010.

Youth unemployment has also seen its biggest fall since records began thirty years ago, with 213,000 young people finding their way into employment, a significant number of them in higher skilled occupations, which have accounted for two thirds of new jobs created since 2010.

In addition, the figures show that three quarters of all of the jobs created over the last four years, some 1.3million, have been full time.

Commenting on these new figures James said:

“These figures are concrete evidence that the Government’s long term economic plan is working. The UK now has the fastest growing economy in the G7 and, importantly, that recovery is being felt across the country and by our young people entering work for the first time too.”

“Each of the 146,000 people finding work over the last three months represents someone taking a pay packet home, learning new skills and making a contribution to the UK economy. Whilst there is still more work to be done, this is extremely positive news and the Government will continue to help businesses build on this success over the coming months.”