Labour Market Report #2: Maintained investment vital to secure labour market recovery
Today we have published our second Labour Market Report, providing a brief overview of the latest labour market trends. Unemployment remains high – between Dec 09 – Feb 10 2,502,000 people were unemployed by the ILO measure (up 43,000 on the previous quarter) and long-term unemployment continues to rise. However, short-term unemployment and redundancies are falling – and the labour market picture is far better than we would have seen had the recession followed the trends of the 80s and the 90s downturns.
Now the recession has ended, the key risk is that growth is not accompanied by job creation. Demand for labour remains weak – the total number of workforce jobs is still falling across the economy. Maintaining public investment will therefore be vital to securing a sustainable labour market recovery – a key challenge for the next Government.