Lowest Unemployment in Over 8 Years Recorded in First Quarter of 2018
Tuesday 10 April 12:39
Number of people actively seeking work (ASW) dropped to new low in quarter 1 of 2018
Unemployment figures released today (Tuesday 10 April 2018) show that the number of people actively seeking work (ASW) has continued to drop to a new low of 910 in the first quarter of 2018. It is the lowest recorded ASW figure since September 2009.
This figure is 40 lower than at the end of December 2017 and 270 lower than at the same time last year (Q1 2017).
Social Security’s Back to Work team continues to work closely with locally-qualified jobseekers to support them into a range of employment opportunities. In the first quarter of 2018, Back to Work supported 385 job starts, with over half of these in the four main sectors of retail, hospitality, construction and administration.
Assistant Minister for Social Security, Deputy Graham Truscott said: “The latest set of ASW figures is encouraging news for jobseekers and for the island. Back to Work continues to play a key role in supporting unemployed islanders. I am impressed and grateful for the dedicated ongoing work carried out by the Back to Work team. The job starts are great news for people who have taken the step of getting back into employment, and for young people who may be taking their first steps into work.”
The figures released today include 280 individuals who are classified as underemployed, but registered as actively seeking work, 30 fewer than last quarter. This group are in paid employment but need more hours to reach full-time employment.
Deputy Truscott added; “Back to Work is supporting underemployed islanders to either engage with their employers to take on more hours in the same job, or find a different role that can give them additional hours. This figure also includes people who are self-employed who Back to Work support with business development to increase their profits and therefore their salary.”
The figures also show that youth unemployment continued to drop, with 140 individuals under the age of 25 registered as unemployed. Long term unemployment also dropped in the previous quarter, with 210 individuals who have been seeking work for over a year. 90 of these are working but still classified as ASW as they are underemployed, and require more hours.