Unemployment figures for people aged 18-24 in Milton Keynes have fallen by 50% in five years according to figures released by the Office for National Statistics.
The figures show that in September this year just 385 young people in MK were unemployed compared to 765 in March 2013. The numbers have continued to fall every year since 2013 and over the last 12 months the number has fallen by a further 55 people.
The good news doesn’t stop there. Average earnings increased by 2.7% in the year to August, up from 2.6% the previous month. Including bonuses, earnings grew by 3.1%.
As Milton Keynes North MP, I'm delighted that unemployment is at its lowest level since the 1970s. Since 2010 over 300 young people in Milton Keynes have been able to get on the career ladder, achieve the security of a job and with a regular salary. That is thanks to action this Government has taken to build an economy that works for everyone here in Milton Keynes and across the UK.
Work and Pensions Secretary Esther McVey said:
“This month’s figures show youth unemployment has fallen by 50 percent since 2010, down to a new record low, showing our welfare reforms are working and giving young people a better future.
“We want to empower young people; open up new career opportunities – deliver a brighter future for them.”
Across the country unemployment for 16-24 year olds was 11.3% in May-July 2018. This was down from 11.9% a year ago and is the lowest rate since comparable records began in 1992.
- Figures can be found here: https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment