From education to employment

Employment rate at new record high

Official figures, released by the Office for National Statistics today, report that the overall employment rate is at 75.7%, a new record high.

Meanwhile, the unemployment rate remains at its lowest since 1975. And, since 2010, the majority of employment growth has been in both full-time and permanent roles.

The women’s employment rate has remained at a joint record high of 71.3%. On top of this, the majority of female employment growth since 2010 has been in higher skilled occupations (74.1%) and the full-time gender pay gap has fallen to a record low of 9.1%.

Secretary of State for Work and Pensions, Esther McVey, said:

The employment rate is now at a record high of 75.7%. With over 3.3 million more people in work since 2010, this government has seen on average 1,000 more people in work each and every day.

Making sure our jobs market works for everyone is at the heart of this department’s work and the modern industrial strategy, and with over 800,000 job vacancies we have a buoyant jobs market with plenty of opportunities available.

The 8-year trend shows the vast majority of roles are in full-time, permanent work that’s higher skilled – which means higher paid too.

The employment rate is at a new record high of 75.7%

Minister of State for Employment, Alok Sharma, said:

It’s fantastic that we have another record high in overall employment and the female employment rate has never been higher, with more people in work than ever before.

Importantly, it’s good see that wages are continuing to outpace inflation. And it’s worth remembering that of the over 3 million increase in employment since 2010, 75% are full-time and permanent, and around 70% are in higher skilled occupations which generally attract higher wages.

The unemployment rate is at its lowest rate since the 1970s, at 4.2%

Today’s figures also show:

  • the number of workers aged 50 and over remains at a record high of 10.18 million
  • the UK has the third highest employment rate in the G7
  • youth unemployment has fallen by nearly 45% since 2010

The figures today showed the wholesale and retail trade; repair of motor vehicles and motorcycles, accommodation and food services and professional scientific and technical activities are the sectors offering the most job opportunities right now.

Sector Number of vacancies
Wholesale and retail trade; repair of motor vehicles and motorcycles 130,000
Accommodation and food services 89,000
Professional scientific and technical activities 73,000

The government has reformed welfare to make work pay, backed businesses to take more people on, and built a stronger, fairer economy.

More information

Read the Labour Market Statistics – July 2018 from the Office for National Statistics.

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