Today’s reduced unemployment figures show that the labour market has withstood the recession much more strongly than in the past, but that the prospects for the remainder of 2010 remain highly variable with a risk of a double dip recession likely should the Conservatives take power and slash public sector headcounts too quickly.
The International Labour Organisation (ILO) indicated that unemployment fell by 3,000 between October and December, compared to the previous quarter (that’s pretty much a statistical dead heat). Conversely, the number of people claiming Jobseeker’s Allowance rose by 23,500 in January, following two monthly falls.
The post Christmas period is always a tough time for jobs, so a rise was to be expected. Looking back to what was happening this time last year underlines that the labour market is now in a far better state than it was then. The February 2009 stats showed a 73,000 rise in the JSA rate and a 146,000 jump in ILO unemployment.
Today’s numbers on vacancies and redundancies, though still painful to those who are currently unemployed, do point to a brighter future ahead. Whoever takes power in May will need to nurture this recovery very carefully.
The International Labour Organisation (ILO) indicated that unemployment fell by 3,000 between October and December, compared to the previous quarter (that’s pretty much a statistical dead heat). Conversely, the number of people claiming Jobseeker’s Allowance rose by 23,500 in January, following two monthly falls.
The post Christmas period is always a tough time for jobs, so a rise was to be expected. Looking back to what was happening this time last year underlines that the labour market is now in a far better state than it was then. The February 2009 stats showed a 73,000 rise in the JSA rate and a 146,000 jump in ILO unemployment.
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