Positive labour market figures still mask worrying trends
11/08/10 | 10:49
Commenting on the labour market figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:
“Overall, these figures were positive and better-than-expected. Employment is higher while unemployment and inactivity are both lower. However, the number of part-time workers rose to its highest level since records began, and the number of people unemployed for more than 12 months increased to a level not seen since 1997.
“While recent labour market trends are welcome, it is important to bear in mind that we have not yet seen the negative impact on jobs that will result from the tough measures announced in the Budget. On the basis of these figures, we reiterate the BCC’s forecast that unemployment is likely to peak at around 2.65m in the second half of 2011.
“The Government must do everything in its power to allow the private sector to create jobs and to offset the unavoidable cut-backs in the public sector. Reducing the significant regulatory burden still facing small and medium-sized businesses must be a key element of an economic strategy focused on job creation.”
Ends
Media Contact:
Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk
Notes to Editors:
• Unemployment fell by 49,000 over the quarter to reach 2.46 million.
• The number of people claiming Jobseeker’s Allowance fell by 3,800 to 1.46 million.
• The number of inactive people fell by 49,000 to reach 9.35 million.
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The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people