TUC: Ministers must keep doing "everything they can" to protect young workers from economic shock
- Overall employment rose by 0.2% to 75.1%.
- The unemployment rate was up 0.1% to 5.2% while inactivity fell 0.3% to 20.7% into the latest three month.
- Payroll employment has risen in each of the last three months by 32,000 overall.
- Youth unemployment is up to 14.5%, although youth inactivity remains down over the year from 32.3% to 29.7 %.
- Vacancies were little changed at 721,000.
- Nominal pay growth slowed to 3.9 per cent in the latest month.
- Real pay growth is 0.6% against CPI inflation, down from 3.1% in the same period last year.
Commenting on the latest labour market statistics, TUC General Secretary Paul Nowak said:
“The jobs market was stabilising before Trump’s illegal war – but now the international picture threatens to make things worse. The longer this war goes on, the greater the threat to households and firms.
“Government support so far has been welcome, but if the economy is further hit by Trump’s illegal war workers will need more help. Ministers must keep doing everything they can to support workers – especially those young people who were let down so badly by the Conservatives.
“The government was right to expand the Jobs Guarantee to more young people and encourage businesses to hire those who have been out of work for more than six months. Early experience of good paid work makes a huge difference to young people’s prospects across their lifetimes. But the number of places should now be further expanded and young people shouldn’t have to wait until they have been unemployed for 18 months to access support."
On interest rates, Paul added:
“The labour market remains subdued, and real wage growth has slowed again. The Bank of England should stay on track with planned rate cuts to make it easier for households to spend and firms to invest."
ENDS
Notes to editors:
- TUC research on consumer demand:
- About the TUC: The Trades Union Congress (TUC) exists to make the working world a better place for everyone. We bring together the 5.3 million working people who make up our 47 member unions. We support unions to grow and thrive, and we stand up for everyone who works for a living.
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