WIREDGOV

New GDP figures show fastest annual growth since 2007.

The number of people in employment in Scotland has increased by 50,000 over the year, reaching a record high of 2,612,000 as new GDP figures show the fastest annual growth since 2007.

ONS Labour Market Statistics released today covering the period September to November 2014 show female employment has also reached a record high and Scotland’s youth unemployment level is at its lowest in five years.

Cabinet Secretary for Fair Work, Skills and Training Roseanna Cunningham has welcomed today’s Labour Market Statistics which show:

• The level of unemployment has fallen by 20,000 over the year and by 79,000 since its recession peak in 2010
• The Scottish unemployment rate of 5.7 per cent remains below the overall UK rate, with Scotland also having a higher employment rate and lower economic inactivity rate
• The number of people claiming Jobseekers Allowance has fallen by 24.9 per cent over the year.

In addition, National Statistics published today by the Scottish Government covering 2014 quarter 3 show that the Scottish economy continues to improve, growing by 3.0 per cent from the same quarter in the previous year. This is the fastest annual growth since 2007 with headline UK annual growth for the same period at 2.6 per cent. Growth over the quarter in Scotland was 0.6 per cent, the ninth consecutive quarter of expansion.

The construction sector again showed its strength, growing by 3.2 per cent over the quarter and 6.6 per cent over the year. The services sector, which accounts for around 72 per cent of the Scottish economy, grew by 0.6 per cent over the quarter with some manufacturing sectors also showing growth.

Ms Cunningham said:

“Scotland is again outperforming the UK on employment, unemployment and inactivity rates and a 3 per cent expansion in our economy over the year is a clear demonstration of our growing strength, not least in the construction sector.

“Our work on jobs and growth is continuing to pay off with record employment levels increasing this month and female employment also reaching a record high, welcome evidence of our on-going work on narrowing the gender gap.

“I am particularly pleased to note positive news on youth employment and I am determined that we will maintain our focus on increasing the employment opportunities for our young people. We will continue to work with local government and employers to deliver the recommendations of the Commission for Developing Scotland’s Young Workforce so that we deliver our ambitious programme to develop a world class vocational education system.

“This government is determined to close the attainment gap in our schools and enable the widest possible access to Higher Education so that everyone gets an equal chance at gaining qualifications, and therefore a job, regardless of their background.

“As the economy grows, we must ensure that everyone is able to benefit from our success. We will continue to use all of the powers we have at our disposal to grow the economy, increase employment, lower unemployment and remove barriers to the labour market.

“The Scottish Parliament will shortly have the first reading of the budget bill for 2015/16 which includes £4.5 billion of investment in infrastructure and additional funding for youth employment to secure sustained growth for Scotland.”

Notes To Editors

All references to records in the labour market are since comparable Scottish data began in 1992.

LMS: http://www.ons.gov.uk/ons/taxonomy/index.html?nscl=Labour+Market.

GDP: http://www.scotland.gov.uk/Topics/Statistics/Browse/Economy/GDP2014Q3.