19th August 2013
The private sector now accounts for a greater share of overall employment than at any time since current records began nearly 15 years ago according to official figures.
Private sector employment has jumped by 1.3m to a record high of 24.1m under the coalition government – while public sector employment has fallen by 423,000.
Last year alone, the increase in private sector employment was almost five times the fall in public sector work. Now, analysis of the most recent Office for National Statistics figures shows how the balance between public and private sector employment has changed since 2010.
Latest seasonally-adjusted figures showed 80.9 per cent of jobs in March 2013 were in the private sector versus 19.1 per cent in the public sector. In March 2010, the private sector accounted for 78.7 per cent of jobs, compared to 21.2 per cent in the public sector.
The analysis reveals that the private sector now accounts for a bigger share of work than since data was first recorded in this way in 1999.
Minister for employment Mark Hoban said: “The number of people in work has hit record levels, unemployment is falling and the number of people claiming Jobseeker’s Allowance dropped by 29,000 last month. There is still lots to do to help those hard-working people who have not yet found a job to realise their aspirations, but these are encouraging signs and a further indication that the economy is moving from rescue to recovery.”
Latest official figures last week showed unemployment fell by 4,000 in the three months to the end of June and the number of people claiming Jobseeker’s Allowance fell by 29,000, while the number of people in work rose by 69,000.