HOSIE ON EMPLOYMENT FIGURES

HOSIE ON EMPLOYMENT FIGURES

UK GOVERNMENT MUST RECONSIDER CAPITAL SPENDING

Commenting on today’s (Wednesday’s) unemployment figures, SNP Treasury Spokesman, Stewart Hosie MP, said that they showed the Scottish economy continues to outperform the rest of the UK but warned that recovery from recession was still fragile and condemned the UK Government’s decision to slash Scotland’s budget by £814m at this sensitive time.

Statistics released by the Office of National Statistics reported the level of working age employment in Scotland rose by 4,000 - compared to a UK-wide decline of 24,000 - with the working age employment rate increasing by 0.1 per cent to 74 per cent. This remains above the UK employment rate of 72.4 per cent.

Working age economic inactivity levels in Scotland fell by 12,000, with the economic inactivity rate declining from 20.2 per cent to 19.8 per cent. This compares to a UK economic inactivity increase of 79,000 to a rate of 21.2 per cent.

Commenting, Mr Hosie said:

“The recession is hitting homes and high streets across the UK but action taken by the SNP Government - including our economic recovery plan and accelerated capital spending - have lessened the impact in Scotland.

“The Scottish economy is currently outperforming the rest of the UK on key indicators. Compared to the UK as a whole, Scotland has had higher rates of employment and economic activity, and lower unemployment, in each of the 30 months since the SNP took office in May 2007.

“This is good news but we must not be complacent. The UK Government’s decision to slash Scotland’s budget by £814m and cut off accelerated capital funding is both illogical and irresponsible and they must reconsider.

“The SNP wants to invest in the Scottish recovery but Westminster is holding Scotland back."