The Conservatives Record on Jobs and Employment.

Since the Conservatives came to power in 2010 we have seen a jobs miracle that has given economic security to hundreds of thousands of people.

Under this Conservative government we have seen…

  • The Highest employment rate ever and lowest unemployment rate in 40 years.
  • 3,011,000 more people in work.
  • Unemployment reduce by 1,085,000
  • Unemployment fall by 46.3% to 4.3%
  • The employment rate increase by 6.8% to 75%
  • Youth Unemployment fall by 40% to 10.6%
  • 76.3% of jobs created being full time.
  • Those unemployed over 12 moths Fall by 14,000.
  • The gender disparity in unemployment Eradicated.
  • The employment rate for women increase by 7.8% to 70.6%
  • The proportion of the workforce in full time jobs increase by .5%

“I believe the best social program is a job”

~ Ronald Reagan (1911-2004)

Key:

  • The UK economy began to shrink in Q2 of 2008 (April – June), the Office for National Statistics (ONS) figures I use are taken from Q1 of 2008 (January – March).
  • The Conservatives took office in May 2010, half way through Q2 (April – June), To give the most accurate picture of un/employment when the Conservatives came to power the ONSs figures I use are the available Feb – April statistics.
  • The figures for 2017 are from the latest ONS report which is for Q3 (July – September)
  • ‘Long Term Unemployed’ = those who have been out of work for 12 months or more.

The Conservatives are the party of working people. Of those who get up early and put the hours in to pay their way and provide for their families. They believe in the dignity of work and making work pay. This is why we have seen the Conservatives in government cutting red tape and implementing policies on tax and benefits designed not only to protect working people and ensure work always pays pay but also to get businesses creating jobs.

Have they succeeded? 

#BestForBritain #SecuringTheRecovery #BecauseOfTories #StrongAndStable #KeepOurEconomyStrong #TeamTory

Employment Rate.

The employment rate is the % of the population who are employed.

  • The employment rate has increased from 70.2% to 75% under the Conservatives.
  • When the economic crash began the employment rate stood at 73%, when the Conservatives took office this had fallen to 70.2% and now stands at 75%.
  • The highest rate reached under the Conservatives was 75.3%, May-July 2017, the highest since comparable records began.

These figures show that the employment rate has not only recovered from the crash but improved on pre-crash levels. In particular we see a substantial increase on pre-crash levels in the employment rate amongst women.

75% of the population in work gives the UK one of the highest employment rate in the world. It is substantially above those states where women are expected to remain at home but also notable amongst developed western economies.

The employment rate is a success story.

‘For Britain to succeed, we need to unleash the ability of every person, harness the creativity of every business, support the ambition and entrepreneurialism of every sector.’

The Rt.Hon Theresa May MP (1956-

Employment Figures.

The employment figures are the numbers of people in work.

  • The number of people in work has increased by 3,011,000 from 29,048,000 to 32,059,000
  • When the economic crash began the number of people in work stood at 29,684,000, when the Conservative took office this had fallen to 29,048,000 and now stands at 32,059,000.
  • The highest rate known since comparable records began was recorded May – July 2017 at 32,136,000, under the Conservatives.

I’m struck by how much of the increase in employment under Conservatives has been down to women. The number of men in work is 979,000, above pre-crash levels, from 79.1% to 79.5%, but the number of women in work is up by 1,397,000, from 67% to 70.6%.

The absolute number of people in employment highlights the successes we see displayed in the emploment rates.

“If you want something said, ask a man; if you want something done, ask a woman.”

The Rt.Hon The Baroness Thatcher (1925 – 2013)

Unemployment Rate

The unemployment rate is the % of the population that is seeking work but currently unemployed.

  • The Unemployment rate has decreased from 8% to 4.3%.
  • When the economic crash began the unemployment rate stood at 5.2%, when the Conservatives took office this had increased to 8% and now stands at 4.3%.
  • The lowest rate known since comparable records began was recorded Nov-Jan 1974 when it reached 3.4%.

   The disparity in unemployment rates between men and women has been eradicated, driven by a more substantial reduction in unemployment amongst men, despite a more substantial increase in female employment and the number of women in the workplace.

Whilst long term unemployment has fallen by 12.7% over the last 7 years it is still higher than before the economic crash.

Overall we have seen a 46.3% decrease in unemployment which has resulted in an unemployment rate that is 17.3% below that seen before the economic crash.

‘Unemployment is of vital importance, particularly to the unemployed.’

The Rt.Hon Edward Heath (1916 – 2005)

Unemployment Figures

The unemployment figures are the numbers of people seeking work but currently unemployed.

  • The number of unemployed people has decreased by 1,085,000 from 2,510,000 to 1,425,000.
  • When the economic crash began unemployment stood at 1,622,000 when the Conservatives took office it had increased to 2,510,000 and it now stands at 1,425,000.

Given the increase in the population and, through immigration, the larger increase in the number of economically active individuals it would not be unreasonable for the absolute number of people unemployed to be higher than pre-crash levels. It is a sign of the Strength of jobs creation that the overall number of unemployed people as well as the numbers of unemployed men, women and young people and the numbers of long term unemployed people is Below that seen in Q1 of 2008.

Whilst the long term unemployment rate has not yet recovered from the economic crash the absolute number of those unemployed for over 12 months is Down by 14,000 because the overall number of unemployed people has decreased so substantially.

The unemployment figures highlight the success of the Conservative government in creating jobs.

‘We Conservatives hate unemployment.’

The Rt.Hon The Baroness Thatcher (1925 – 2013)

 

What kind of Jobs are they?

Full Time Vs Part Time

  • The number of people working full time has Increased by 1,383,000 since Q1 2008 but 2,296,000 since the Conservatives came to power.
  • The number of people working part time has increased by 992,000 since Q1 2008 but 714,000 since the Conservatives came to power.
  • When the economic crash began the proportion of the workforce in full time work stood at 74.6%, when the Conservative took office this had fallen to 73% and now stands at 73.4%.
  • When the economic crash began the proportion of the workforce in part time work stood at 25.4%, when the Conservative took office this had increased to 27% and now stands at 26.6%.
  • The increase in employment since the crash has been 58.2% full time work and 41.8% part time work.
  • The increase in employment since the Conservatives came to power has been 76.3% full time work and 23.7% part time work.

These statistics show that the proportion of the workforce in full time employment has actually increased by .5% since the Conservatives took power.

These figures show that far from slowing down when the Conservatives took power the number of people going into full time work actually accelerated, which is good news for people in term of economic security. 

Employees Vs Self Employed

  • Overall we have seen a 21.1% increase (837,000) in the number of self employed people since the Conservatives came to power.
  • 51.9% of this is full time work to 48.1% part time.
  • Overall we have see an 8.9% increase (2,218,000) in the number of employees since the Conservatives came to power.
  • 82.7% of this is full time work to 17.3% part time.

Whilst we have seen a very substantial increase in the numbers of people who are self employed, most people moving into work have been doing so as employees working full time.

“If you dream of starting a business; if you want to work and provide for your family, if you get up before dawn, and put in the effort o build that business, I am on your side.”

The Rt.Hon David Cameron (1966-

Why is this happening?

In short? Tax cuts and changes to benefits making employment more attractive and creating the environment in which businesses can grow.

Two policies in particular have contributed to motivating people and providing jobs:

  • Increase in the Tax free personal allowance from £6,475 under Labour to its current level of £11,500 with another increase, to £11,850, planned for April 2018, making work more attractive.
  • Reducing Corporation tax from 28% under Labour to its current level of 19%, leaving businesses with more money to expand.

Work is now much more financially attractive and companies are in a position to produce jobs.

‘We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.’

The Rt.Hon Sir Winston Churchill (1874-1965)

Not only has employment and unemployment recovered from the crash but improved on pre crash levels. We see more women in work than ever before, more full time jobs to give people greater economic security, less long term unemployment, less unemployment for 18-24 year olds and a greater number of people choosing to create their own businesses and become self employed. All this means more people able to support themselves and other and this is great news.

There are issues to be deal with, in particular further reducing young and long term unemployment, but it is clear that the Conservatives have a very good record on jobs and employment.

‘The greatest good you can do for another is not just to share your riches, but to reveal to him his own.’

The Rt.Hon The Earl of Beaconsfield (1804-1881)

Check my figures:

UK labour market: November 2017

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/november2017

Employment rate (aged 16 to 64, seasonally adjusted)

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/timeseries/lf24/lms

Number of Unemployed Women (aged 16 and over, seasonally adjusted)

https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment/timeseries/mgse/lms

Number of Women in Employment (aged 16 and over, seasonally adjusted)

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/timeseries/mgsb/lms

Female employment rate (aged 16 to 64, seasonally adjusted)

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/timeseries/lf25/lms

Number of Men in Employment (aged 16 and over, seasonally adjusted)

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/timeseries/mgsa/lms

Male employment rate (aged 16 to 64, seasonally adjusted)

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/timeseries/mgsv/lms

Number of Unemployed Men (aged 16 and over, seasonally adjusted)

https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment/timeseries/mgsd/lms

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