Labour market picture very unclear, says IoD

Dated: 15 February 2012

The latest labour market statistics provide few answers, says Graeme Leach, Chief Economist at the Institute of Directors:

“There is something for everyone in these figures. For the optimists, employment rose by almost 60,000 and the number of people on Jobseekers Allowance rose by only 6,900. For the pessimists, the Labour Force Survey measure of unemployment rose by 48,000 and shows no sign of reversing given the outlook for GDP growth. Pessimists might also point out that whilst employment rose by 60,000, there was a wide gap between full-time (down 26,000) and part- time (up 90,000) performance. The labour market isn’t signalling recession but it’s hardly suggesting recovery either.”

ENDS

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Edwin Morgan
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Email: edwin.morgan@iod.com
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Notes to editors

  • The IoD (Institute of Directors) was founded in 1903 and obtained a Royal Charter in 1906. The IoD is a non-party political organisation with upwards of 45,000 members in the United Kingdom and overseas. Membership includes directors from right across the business spectrum – from media to manufacturing, e-business to the public and voluntary sectors. Members include CEOs of large corporations as well as entrepreneurial directors of start-up companies.
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