Michael was very pleased that figures released today by the Office for National Statistics (ONS) show that the number of people out of work in Sevenoaks fell again this month.
The unemployment rate in the Sevenoaks constituency is now just 0.9%. The number of people unemployed has fallen by almost 20% so far this year and is now 58% lower than in 2010. Youth unemployment has also fallen by a third since the same month last year.
Michael said: “It is extremely good news that unemployment in Sevenoaks has fallen once again this month. I also welcome the fact that unemployment across the country is now at a seven-year low, while the employment rate is the highest since records began. Sevenoaks is continuing to experience the benefits of the Government’s long-term economic plan to support hardworking people.”
Michael welcomed new figures showing that 60 people have started their own business after being helped off benefits in his Sevenoaks constituency, with the support of the Government’s New Enterprise Allowance.
Since its introduction in April 2011, the allowance has helped 73,000 people on out of work benefits across the country to set up their own businesses. Individuals are supported by a business mentor and receive 26 weeks of financial support.
Michael said: “It is excellent news that so many people in my constituency have not only left a life on benefits, but have also started to make such a positive contribution to our economic success. This is the latest example of the Government supporting those who want to work. I wish all those who have been helped by the New Enterprise Allowance every success.”
Michael welcomed the latest figures which were released today by the Office for National Statistics (ONS) showing that unemployment in the Sevenoaks constituency fell in August.
Unemployment is now 27% lower than in 2014 and 57% lower than in 2010. Youth unemployment has fallen by a third since the same month last year.
Across the country, average earnings increased by 2.9% over the year, the fastest rate since 2002. With figures released yesterday showing inflation at 0.1%, this means that hardworking people have more money in their pockets.
Michael said: “I am very pleased that unemployment in Sevenoaks continues to fall. It is particularly good to see that earnings are growing significantly. While there is always more to be done, the Government’s long-term economic plan to support hardworking people is clearly succeeding in the Sevenoaks constituency.”
Speaking at Sevenoaks & District Chamber of Commerce Celebration of Business event at St Julian’s, Underriver on Thursday 5th June, local MP and business Minister Michael Fallon said: “Unemployment in Sevenoaks has fallen substantially since the last General Election. The number claiming Job Seekers Allowance has fallen from 1,074 in May 2010 to 675 in April 2014 – a drop of 37 per cent. There are now a record 4,720 businesses registered for VAT in the Sevenoaks area. Local firms have created 1,640 apprenticeships since the last election, over 500 of them last year. There are still challenges, and the government has announced new plans to improve lending to small firms and to help them win a bigger share of public sector contracts. But Sevenoaks business is on a roll.”
Sevenoaks MP and Business Minister Michael Fallon welcomed the ONS figures which were published today showing unemployment has continued to fall in the UK.
The number of unemployed claimants in the Sevenoaks constituency in September 2013 was 750. This figure is 236 lower than in September 2012 and 47 lower than in August 2013. The number of claimants up to the age of 24 was 205 in September 2013, 100 lower than in September 2012.
Michael said: “This is welcome news and further evidence that the economic recovery is taking shape. Government policies which have allowed for the creation of 1.4m private sector jobs and reforms to welfare which makes work pay are clearly taking hold. These latest statistics are a credit to British businesses, especially in Sevenoaks and Swanley, for creating those jobs which are driving UK growth upwards and making our economy competitive again.”