Ryan FowlerThe latest labour market statistics reveal a continuing downturn in employment figures, with payrolled employees dropping by 35,000 in November. Vacancies have also seen a decline, reducing by 31,000 to 818,000, marking the 29th consecutive month of decrease.
Youth unemployment remains worryingly high at 12.7%, while long-term sickness continues to keep 2.8 million people out of the workforce. Despite these challenges, real wages have seen a 3.0% increase, though they are only slightly above the levels during the financial crisis.
In response to these figures, Paul Nowak, general secretary of the TUC, said: “The Tories left behind a failed economy. Poor growth has left us with falling vacancies, high youth unemployment, and too many people stuck waiting for the healthcare they need to return to work.
“The government is heading in the right direction, boosting investment to get the economy moving and create more jobs. They must deliver that investment quickly, and the Bank of England must keep moving with interest rate cuts. Small improvements in private sector pay growth are no reason to delay action.
“Ministers are taking important steps to improve support for people out of work. Jobcentres must become places people enter with hope, not fear. They should give young people genuine opportunities to earn and learn. And they should help everyone who wants to improve their skills, find better work, and take a step up in their career.”
