Reigate and Banstead Conservatives Welcome Strong Economic Data

The latest Office for National Statistics (ONS) figures show that a record 32.6 million people were employed between October and December. The unemployment rate, at 4% is the lowest since early 1975.

Weekly average earnings went up by 3.4% to £494.50 in the year to December - after adjusting for inflation, that is the highest level since March 2011.

Employment Minister Alok Sharma MP said: "While the global economy is facing many challenges, particularly in sectors like manufacturing, these figures show the underlying resilience of our jobs market - once again delivering record employment levels."

In addition, the UK now has a record low youth unemployment rate, female employment is at a record high and, since 2013, 930,000 more disabled people are now in work. The number of first-time buyers is at a 12 year high, with research from Halifax showing that most mortgages now go to first time buyers – the first time such a situation has existed since 1995.

Buoyed by record tax receipts, January saw the largest surplus on record, meaning that the Government can invest more in the vital public services that we all rely on – like the NHS.

Reigate and Banstead MP Crispin Blunt said: “We now have the highest employment figures levels ever recorded and youth unemployment has fallen by 50% since 2010.  

"Conservatives can be proud of their national record in creating jobs and opportunities, supported by an especial focus on young people by Reigate & Banstead Council. The best way to ensure this continues is that we have a Conservative Government and a Conservative Council.”

Conservative Cllr Eddy Humphreys, Executive Member for Business and Economy on Reigate and Banstead Borough Council, said: "We have a thriving economy here in Reigate & Banstead and I am proud to be part of a Conservative led Council, which invests into local business with initiatives such as providing Grants and putting on Learning Lunches.  This support enables small businesses to start up and grow.

We continue to work with our high streets, with recent investment into both Redhill and Horley, to help create an environment which is attractive to visit and spend time there.

By working with our larger businesses, schools and colleges we aim to ensure the future generation is well equipped for employment locally, whether this is through further education or apprenticeships.

I see Reigate and Banstead as a great place to live, work and play and our role is pivotal in this.”

 

You can read the full ONS report here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/february2019

Additional sources:

https://www.ft.com/content/989ad7cc-35bc-11e9-bb0c-42459962a812

https://www.bbc.co.uk/news/uk-47336500

https://www.conservatives.com/sharethefacts/2019/01/jobs