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Kent unemployment figures for July 2022 continue to fall in all but 3 of our districts
09:15, 16 August 2022
updated: 09:30, 16 August 2022
Unemployment rates in the county continued to fall last month - but inflation continues to outstrip wage increases leaving many worse off.
According to the latest figures from the Office for National Statistics (ONS), the total number of people out of work in July stood at 37,625. That's the equivalent of 3.3% of the population.
Compared to the previous month's adjusted figures, it means 550 are no longer claiming Universal Credit.
The county is faring better than the national unemployment average - which for the period April to June stood at 3.8%.
However, there were minor rises in three of our districts.
Sevenoaks, which historically has one of the lowest rates of unemployment in the county, saw a rise of 25 - equating to 2% of its population claiming benefits. Folkestone & Hythe saw an increase of 20 (4% of its population claiming Universal Credit) and Tunbridge Wells edged up by five to 2.3%. The highest rates continue to be in Thanet, despite another month-on-month drop. Those claiming in the district stand at 4,690 - despite a drop of 75 - with 5.8% out of work.
The number of vacancies continued to be high - but it has dipped a little, hinting that the unusual equation of more vacancies than people searching for jobs may be coming to an end.
However, while the headline figures continue to look impressive, the sharp rise in inflation is squeezing the pocket of the majority.
Nationally, the ONS said regular pay, excluding bonuses, grew by 4.7% over the three months to June.
However, it comes after inflation - the rate at which the price of goods increases - hit a 40-year high of 9.4% in June with expectations of it peaking as high as 11% later this year.
The ONS said this resulted in a 4.1% drop in regular pay for employees once Consumer Price Index inflation is taken into account, representing the biggest slump since records began in 2001.
All individuals' budgets are set to put under serious strain when the energy power cap is hiked up again in October. Those claiming Universal Credit and who did not recently receive the first of the Government's cost-of-living payments should click here for further details.
Chancellor Nadhim Zahawi said: “Today’s stats demonstrate that the jobs market is in a strong position, with unemployment lower than at almost any point in the past 40 years – good news in what I know are difficult times for people.
“This highlights the resilience of the UK economy and the fantastic businesses who are creating new jobs across the country.”
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