Oral Question·Treasury
“What recent assessment he has made of the effect of his fiscal policies on the cost of living.”
Tabled: 26 January 2022Answered: 1 February 2022
Answering Minister
the Chancellor of the Exchequer
Answer from Hansard
The Minister for Employment (Alison McGovern)
The unemployment rate is 4.7%—well below the historic high of 11.9% in 1984—but no one should ever be complacent about unemployment, especially considering the significant jump in economic inactivity under the Tories. That is why I am pleased to tell the House that employment is up by 725,000, to 75.3%, since July 2024 and inactivity is down by more than the rise in unemployment—a reduction of 400,000.