Ryan FowlerThe TUC has called for a national jobs guarantee to support young people into work, warning that fragilities in the UK labour market remain despite recent signs of improvement.
Latest data show the number of payrolled employees fell by 127,000 over the past year, though the pace of decline has slowed.
The employment rate edged up to 75.2% from 75.1%, while the unemployment rate rose slightly to 4.7% from 4.6%. Economic inactivity fell to 21.1% from 21.4%. Youth unemployment also declined, dropping to 11.6% compared with 13.3% a year earlier. Real wages grew by 1.2%, although both real and nominal pay growth are slowing.
Commenting on the figures, Paul Nowak, TUC general secretary, said: “Fragilities in the jobs market have been long in the making and are another toxic Tory legacy. But there are some positive signs. It is welcome that both economic inactivity and youth unemployment are down. And the government has started to lay the foundations to reset our economy with significant investment in public services, stronger workers’ rights and improving the support people need to get into work.”
Nowak added: “But the government must build on this with a national jobs guarantee for young people. There are still too many young people stuck out of work, education and training. We know that real experience of paid work is the best way to turn the tide on long-term worklessness – and that over time this investment will more than pay for itself.”
