Jobs market remains grim but some early signs of stability
Commenting on today’s labour market statistics, Charles Levy, senior economist at The Work Foundation, said:
“Today’s labour market statistics offer some tentative signs that the economy was stabilising at the end of last year. In the three months to November, employment actually increased by 18,000. This comes after very high job losses over the summer.
“This will however be of little comfort to the millions of workers who are facing the toughest labour market since the start of the recession. Comparing the three months to November last year with the previous three months, unemployment increased by 118,000. The young (16-24) and the older (50-64) bore the brunt of this. Those in work are also continuing to feel the squeeze as the economy substituted full-time work for part-time, permanent employment for temporary positions and employee jobs for often more precarious self-employment.