We are delivering on your priorities – ensuring everyone has the security of a good job.
There are 33.1 million people with the security of a job in the UK – up 190,000 over the last year and up by four million since 2010.
Reducing unemployment
We are getting more people into jobs to help reduce inflation as we are easing the cost of living crisis after undergoing economic difficulty due to the War in Ukraine and the pandemic:
- we are reducing unemployment by 4.1 % – a decrease from 8.1% in 2010;
- 33.1 million people in work, up 4 million compared to 2010;
- youth unemployment nearly half what it was in 2010;
- We are growing the average total pay by 7.3% – the highest since the pandemic.
Growing the economy
Our successes mean that we are building a stronger economy allowing us to strengthen communities and fulfil our plans to level up as we continue to build a better future for the next generation.
Halving Inflation
We are showing progress on our promise to halve inflation by the end of the year, as our £94 billion support package remains in place. New figures show the rate of inflation is at 7.9 per cent, down from 10.1 per cent at the beginning of the year. Whilst we work on this promise, we have a £94 billion package of cost of living support in place, worth £3,300 on average per household.
Better and more secure future for all
We are building a better future for our children as more and more adolescents are attending university helping reduce youth unemployment by 457,000 – half the figure that labour left in 2010. This highlights how we are securing our future for the next generation as our economy continues to grow and inactivity is continually declining by 2.8%.
Commenting, Secretary of State for Work and Pensions, Mel Stride said:
We are removing barriers to work, ensuring work always pays through reforms to Universal Credit and supporting those who are sick or disabled to get into work.
Our stronger economy means a lower cost of living and a stronger NHS
By stimulating growth in the economy, we can create more affordable food and energy as we reduce inflation. This also means we are funding the NHS with £250 million so that they can grow their capacity in urgent and emergency care by preparing them to adapt to growing populations in your local area. This is improving local NHS services for communities so they can get the care they deserve more quickly.
And more people in work doesn't just help us reduce debt, put more money into our public services and provide people with security for their family: it also helps strengthen communities and helps level up left-behind areas.
