The Conservative Party released figures on Friday showing that two million jobs have been created since 2010, and have promised two million more by 2020 should they win the General Election in May.
The Office for National Statistics (ONS) labour market statistics published last week for the three months ending in February showed employment continuing to rise and the number of those considered unemployed falling. The report stated that “these changes maintain the general direction of movement since late 2011/early 2012.”
Unemployment now stands at 5.6 percent, or 1.84million, 76,000 fewer than in the three months prior to November 2014 and 416,000 less than a year ago. The report also found that pay for employees in Great Britain had increased 1.7 percent including bonuses and 1.8 percent excluding them compared with this time last year.
1.9 million jobs created since 2010. 2 million more by 2020. RETWEET to let friends know. pic.twitter.com/2zf4AAEv0l
— Conservatives (@Conservatives) March 31, 2015
As part of their General Election campaigning, the Conservatives have promised to continue the trend of falling unemployment and to create a further two million jobs by 2020. In a press release statement, Priti Patel, MP for Witham in Essex, claimed, “It’s no mystery why our economy is creating jobs: it’s because of the hard work of the British people, and because of the measures David Cameron has put in place to back businesses and build a stronger, healthier economy.”
However, not all share the Conservatives bright outlook on employment and wage growth. Commenting on the labour market statistics, TUC General Secretary Frances O’Grady said:
“Workers have just been through the longest period of falling real wages since Queen Victoria was on the throne. Wage growth remains weak today, with rising pay too dependent on oil prices being at rock bottom – a situation that’s unlikely to last.”
On the TUC’s hopes for the outcome of the General Election, O’Grady stated, “We need a government that builds a far more stable foundation for decent wage growth than we’ve had in the last five years. This should include a much higher minimum wage and stronger rights for people with zero-hours contracts.”
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James Marsh is an HR consultant and currently leads the editorial team at HRreview.
An avid HR blogger and tweeter on HR and management issues, James has worked as an HR manager, consultant, in-house recruiter and trainer and has expertise in both management strategy and HR policies and processes. He has a BA from the University of Nottingham in American Studies, a Masters in Human Resource Management from the University of Westminster and is a member of the Chartered Institute of Personnel and Development (CIPD).
James is also the regular chairperson of HRreview's series of webinars that discuss and debate the latest HR trends and issues, InsideHR.
