Unemployment is at a five-year low for July in Bermondsey and Old Southwark, according to the latest figures from the Office for National Statistics.
The number of people claiming Job Seeker’s Allowance stands at 3,029 for July 2014, down by over a thousand compared to 4,137 for July 2013.
In fact, the unemployment figure is at its lowest since December 2008, when coincidentally it also stood at 3,029.
Simon Hughes, local MP for Bermondsey and Old Southwark, said: “It is great to see the economic recovery having a real impact on jobs in Bermondsey. We should not forget the reckless spending of the last Labour government, which left us teetering on the brink of economic crisis. Liberal Democrats have been a key part of a coalition government which has helped turn our economy around – and provided jobs.
“The best news is that youth unemployment in Bermondsey is now down over a quarter compared to last year. Getting our 18-24 year-olds into work is vitally important, which is why I am pushing hard in government for us to go even further in terms of offering apprenticeships and other opportunities.”
In the last year unemployment has come down over a quarter (26.8 per cent) across Bermondsey and Old Southwark, and over a quarter (27.4 per cent) among 18-24 year olds. Long term unemployment, i.e. claims over 12 months, has fallen by nearly a quarter (24.5 per cent).
Across Greater London unemployment fell more than a quarter (28.7 per cent) over the last year and over a third (33.6 per cent) for 18-24 year olds. Long-term unemployment fell by over a quarter (28.5 per cent).