Recent statistics from the Office of National Statistics show that the number of Bermondsey and Old Southwark constituents on Jobseeker’s Allowance (JSA) has dipped dramatically from a year ago. This trend points to rising employment.
The total number of JSA claimants from Bermondsey and Old Southwark in January 2014 was 3,581. The number of claimants in January 2015 is 2,651. The one-year difference illustrates a 26% decrease in those on unemployment benefits.
In fact, unemployment rates are at their lowest point in 5 years on both a local, regional, and national level. Bermondsey and Old Southwark’s unemployment rate (as a proportion of 16-64 year olds) stands at 2.6%, while London’s is at 2.1% and the UK stands at 2%.
Unemployment rates have decreased steadily since Autumn 2011 and have continued this trend on the local, regional and national level.
Youth unemployment at Bermondsey and Old Southwark is at 2.4%, lower than both the London and UK averages of 2.7% and 3.2%, respectively. Youth unemployment rates in Bermondsey and Old Southwark have been decreasing since Fall 2012. These figures represent the portion of all 16-24 year olds in the constituency claiming JSA.