Record employment statistics
The number of people in employment has reached a record high. The latest Office of National Statistics figures show that total employment rose to 32.2 million in November, raising the employment rate to 75.3%. This is the joint highest rate recorded since comparable records began in the early 1970s. However despite apparent strong demand, some people still spend lengthy periods unemployed.
Roughly 20%, 30% and 40% of young (18-24), prime age (25-49) and older (50+) unemployed respectively have been out of work for more than a year, which suggests a structural problem within the labour market.