Employment rate reaches new record high

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Official figures out today show that the employment rate is at 75.4% – up 0.8 percentage points from 74.6% a year ago and the highest since records began.

Figures released by the Office for National Statistics show that 427,000 more people have moved into employment in the last year, with 32.26 million now in work. On average, 1000 more people have entered employment every day since 2010.

The unemployment rate (4.2%) has not been lower since 1975, and the number of people out of work is down by 136,000 compared to a year ago.

In addition, as recognised by the ONS, wages are now outpacing inflation.

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