Awful unemployment figures
I have a post at Left Foot Forward, looking at today’s labour market statistics. Unemployment is up 118,000 – if it continues rising at the rate it has in recent months, it will reach three million by this summer:
There seems to be some reason for optimism in the fact that employment also went up – admittedly, by just 18,000, but that is better than a fall.
Unfortunately, as I show in my post, the improvement in employment is largely due to increases in part-time and self-employment. The number of employees working full-time fell by 140,000.
The increase in self-employment wouldn’t be a problem if it indicated a burst of new entrepreneurship – or was even just an increase in people living out their dream of being their own boss. But a whole series of indicators suggest that the labour market is actually very soft: the outlook for insecure workers and people looking for jobs is grim.