Well there is some good news on the employment front. Unexpectedly the number of people unemployed in the UK has fallen for the first time in 18 months. The Unemployment rate stands at 7.8%, down from 7.9% reported the previous month.
But that figure hides the fact that there has been an increase in people taking on part time work - the view being that it is better to be in some form of work rather than doing nothing at all. Another issue is that in the current climate there appears to be a willingness in the recession for workers to take a reduction in their pay and maybe even a reduction in working hours rather than lose their job completely.
Vacancies being advertised is up by more than 16000 in comparison to the previous 3 month period but even that is significantly down on the activity of a year ago.
So are we starting to see more green shoots of recovery. I certainly hope so.
(C) Iain Williamson 24.1.10
But that figure hides the fact that there has been an increase in people taking on part time work - the view being that it is better to be in some form of work rather than doing nothing at all. Another issue is that in the current climate there appears to be a willingness in the recession for workers to take a reduction in their pay and maybe even a reduction in working hours rather than lose their job completely.
Vacancies being advertised is up by more than 16000 in comparison to the previous 3 month period but even that is significantly down on the activity of a year ago.
So are we starting to see more green shoots of recovery. I certainly hope so.
(C) Iain Williamson 24.1.10
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