§ 11. Mr. Hicksasked the Paymaster General what is the estimated number of new job opportunities currently being created each month; what was the corresponding figure 12 months ago; and if he will make a statement.
§ Mr. LangThe latest available estimates show that there was a net increase of 10,000 monthly in the employed labour force during the third quarter of 1985. This compares with an average monthly increase of 23,000 in the same period 12 months ago. There have now been 10 successive quarterly rises in the number of jobs, leading to a net increase of 709,000 since March 1983.
§ Mr. HicksI welcome that trend, but does my hon. Friend agree that, because of job losses, we must have still greater investment in labour-intensive activities such as house building and home improvements, and that the Government must accept their responsibility in those areas?
§ Mr. LangI note what my hon. Friend says. I am sure that he would not want to underestimate the amount of public and private capital expenditure that is taking place and that he agrees that the overriding concern must be to keep inflation low, as inflation destroys many jobs.