Latest statistics show encouraging signs for labour market.
Unemployment rates in Scotland fell by nearly one percentage point over the last quarter to 4.6%, the lowest rate of unemployment since 2008 according to the latest ONS statistics published today.
The Labour Market Statistics for June to August 2016 show Scotland continues to outperform the UK on female employment, unemployment and inactivity rates.
Scotland is also outperforming the UK on youth unemployment with the rate falling 5.0 percentage points over the year to 12.2%.
The statistics show:
• Unemployment fell by 0.8 percentage points over the quarter to 4.6%
• The unemployment level also fell by 25,000 over the quarter to reach 127,000
• Employment rates decreased by 0.1 percentage point, over the quarter to 74.0% with 2,618,000 people in employment
• There are 54,000 more people in employment now compared to the pre-recession peak March – May 2008
• Scotland continues to outperform the UK on female employment, unemployment and inactivity rates
Commenting on the statistics during a visit to meet staff at Schofield Dyers and Finishers which employs 55 people in Galashiels, the Minister for Employability and Training Jamie Hepburn said:
“I am pleased the latest labour market statistics show encouraging signs for our economy with unemployment levels falling and Scotland outperforming the rest of the UK in terms of female employment, unemployment and inactivity rates.
“Despite continuing economic concerns following the EU referendum result, these latest statistics show our policies and investment are helping to reduce unemployment. We will not be complacent and are absolutely committed to taking action to tackle inequalities and increase employment rates.
“Our Labour Market Strategy sets out how we will put fairness at the heart of our drive to boost the economy, create jobs and remove any barriers to work and our planned £500 million Scottish Growth Fund will support businesses during these uncertain times.
“We will also inject £100 million into our capital spending plans this year which will provide a significant boost to the £6 billion worth of projects already under construction and support activity and jobs in our economy. We will continue to push the UK Government to match this action and put forward their own capital stimulus package.
“While we are doing all we can to boost our economy it’s clear that we need to protect Scotland’s relationship with the EU so we can build on these positive economic trends, rather than put this progress and Scottish jobs under threat.”
The publication is available to view at: https://www.ons.gov.uk/releases/regionallabourmarketstatisticsintheukoct2016
The statistics also show there are 180,000 more people in employment now compared to the lowest point of the recession, during February to April 2010.