Fraser Nelson

Unemployment is at its lowest since 1975. Can someone tell the Tories?

Unemployment is at its lowest since 1975. Can someone tell the Tories?
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British government may not be strong and stable but the economy is still the most formidable job creating machine in Europe. And while it's certainly true that much of the rise in employment is down to immigration, British unemployment is also down – figures today show the lowest level since 1975.

My old friend Simon Nixon writes in the Times today about Britain becoming the new basket case of Europe, and has been making similar noises since the Brexit vote. He may well he right, but so far this basket is carrying more jobs than at any time in history.

Don't expect the Tories to make this point: they've been out to lunch since the Brexit vote, and barely mentioned the economy in the campaign. As we say in the leading article of The Spectator today, the party doesn't know what it's doing right. We're seeing the fruit of the tax cuts and welfare made in the coalition years, and even Cameron is so bamboozled by Brexit that he can't make this point.

To those asking: what type of jobs? Here is the answer.

Cameron's achievement is historic, as the below graph shows.

You'll notice that this graph looks a bit different. I started off in national journalism making graphs, for the Times business desk, 20 years ago. So I'm honoured to be (indirectly) doing so again.