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

“Today’s fall in unemployment is welcome, but families are facing a cost-of-living crisis and on average working people are now £1,600 a year worse off under this out-of-touch Government.

“Today’s figures show prices have now risen much faster than wages for 41 of the 42 months since David Cameron became Prime Minister. Youth unemployment is still unacceptably high at over 900,000 and the number of people in part time jobs who want to work full time has risen again, to a record high of 1.5 million.

“Labour would act to tackle the high levels of youth unemployment with a compulsory jobs guarantee, funded by repeating the tax on bank bonuses, and limiting pension tax relief for the very highest earners. This would guarantee real paid work for young people unemployed for a year and also for all adults unemployed for two years – work they would have to take or lose their benefits.”