14 February 2023
Dunne comments on latest employment figures

Unemployment is now almost at the lowest for half a century, with the proportion of the working age population now in work nationally at 76%, being higher than in Canada, the US, France, or Italy.

Unemployment in the Ludlow constituency remains materially lower at 2.4% compared to the national average of 3.6% for 16–64 year-olds who are claiming unemployment related benefits either Jobseeker's Allowance or Universal Credit (UC) and required to seek work.

While last month in Ludlow 25 more people were unemployed than in December, there were 230 fewer unemployed than 12 months ago. There has also been a slight reduction in the number of young people aged 18-24 unemployed last month.

Commenting on these figures, South Shropshire MP Philip Dunne said:

“Last week we had confirmation that the economy grew faster than any other in the G7 last year at 4.2% of GDP and did not go into recession as many had forecast.

“Last month’s employment figures released today show 30 million people are in work across the UK – nearing a 50-year employment high with another recorded fall in unemployment – giving more people the security of a job as we deliver on our priorities to grow the economy, halve inflation, and reduce debt.

“I welcome the decision announced at the Autumn Budget to reduce the UC taper rate from 63 per cent to 55 per cent, as well as an increase in work allowances in UC by £500 a year.

“These changes represent an effective tax cut for low-income working households in receipt of UC worth £2.2 billion.

“Universal Credit remains the biggest and most fundamental reform to the welfare system since its inception. It is based on the principles that work should always pay and those who need support receive it, whilst also being fair to taxpayers.”