Rachel Reeves MP, Labour’s Shadow Work and Pensions Secretary, responding to today’s Labour Market Statistics, said:

“The small fall in unemployment is welcome, but there are still far too many people chasing too few jobs. And for those in work the cost of living crisis continues, with prices now rising faster than wages for 39 out of the 40 months since David Cameron became Prime Minister. Working people are now on average more than £1,500 a year worse off under this out-of-touch Government.

“The number of people in part time jobs who want to work full time is at a record high at almost 1.5 million. Almost one in five part time workers want to do more but can’t get the extra hours. There are still almost 1 million young people out of work, with unemployment amongst 18-24 year olds up by 10,000. The number of people unemployed for more than 2 years is up 23,000 on the year.

“Unacceptable levels of youth unemployment, long term unemployment, and rising underemployment continue to do deep and lasting damage to people’s lives and our country’s economic prospects. We need a recovery that benefits everyone, not just a few at the top. That is why Labour will repeat the tax on bank bonuses and limit pension tax relief for the highest earners to pay for a compulsory jobs guarantee for young people out of work for a year and adults unemployed for two years – a paid job people would have to take up or lose benefits.”