“This month’s figures continue the trend that we have seen for the last year or so. The number of people employed has increased again to record levels – although the employment rate still remains below its pre-recession peak – and this has happened during a period when we have seen little evidence of economic growth. The number of unemployed people has increased slightly but this could be the result of welfare to work changes intensifying job search activity among those out of work and claiming benefits, and in the long term this should be beneficial to the economy by boosting labour supply.
“One of the explanations as to why employment has continued to grow is the declining real value of earnings. The annual rate of growth of average earnings was 1.2% in January, which was 1.5 percentage points below the rate of inflation. As a result, those in work continue to see their living standards squeezed.
“It will be interesting to see whether the forecast accompanying today’s Budget from the independent Office for Budget Responsibility anticipates employment growth on this scale to continue when economic growth resumes, or whether they expect productivity to increase and more moderate rates of employment growth.
“The employment figures for 16-24 year olds remain a matter for concern. The total number of unemployed 16-24 year olds has increased since last month’s figures. Young people appear to be missing out on the jobs growth we have seen, risking the future supply of talent and potentially leaving a permanent scar on the UK labour market. The mismatch between young people’s behaviour and employer expectations at the recruitment stage is part of the problem and via our Learning to Work programme we are seeking to address this disconnect.”
Learning to Work is an action-focused programme led by the CIPD to tackle the problem of youth unemployment. Click here for more information.
***** Don't Miss the Latest News - Receive these Posts by Email *****
Low Cost and Free Publicity - Your company can easily benefit from some publicity like this in return for a contribution towards our layout costs (typically £25 plusVAT), payable via PayPal or credit card or receive the service absolutely free of charge if you advertise (see below).
We post articles up to twice a day and never delete them - we only archive them each year so that they continue to remain visible to search engines.
To have your story published - just send us your news item, logo and image(s) and we will review the material, make any necessary changes to the wording / wordcount and then advise you when it will be published.
If you take display advertising or product and literature features in our printed and online publications, you will qualify for regular free postings on this blog while you continue to advertise with us.
For details on features and advertising rates please contact us or visit our website.
Door Industry Journal is a trading style of Avalon Innovations LLP Company Registration No. 06807833