Female employment has increased in every sector of the UK economyNovember 4, 2014 // No Comments
HM Treasury announced on 23rd October new analysis showing that female employment has increased in every sector of the economy with nearly 80% of the increase being in highly skilled occupations.
On the same day, Chancellor of the Exchequer, George Osborne, embarked on a regional tour to meet with women working in all four sectors of the economy – services, agriculture, construction, and manufacturing – to find out what more the government’s long term economic plan can do to support female employment. The analysis based on the latest labour market data showed that more women are in work than ever before with the proportion of women in work also at a record high.
While the government has already prioritised key policies to help support women into work, including tax free childcare and increasing the personal allowance, the analysis shows that there is more the government can do to support more women in work. If the government could help 450,000 more women into work – 6.9% of those working age women currently out of work – the UK would have a female employment rate equal to Germany and the second highest overall employment rate in the G7.
Alongside cheaper childcare, the Chancellor is considering ways of boosting childcare provision. The Childcare Business Grant which has so far supported 29,000 new childcare places is due to finish at the end of the year. By extending it for another year, and increasing funding to £2million the government could support a further 50,000 childcare places next year.