UK labour market continues to defy gravity - REC
Commenting on the latest Labour Market Statistics released today by the Office of National Statistics, the chief executive of the Recruitment and Employment Confederation, Kevin Green, says:
“The UK labour market continues to defy gravity as the private sector carries on creating jobs. This month’s increase in employment means we are only 96,000 off the pre-recession peak for people in work. The continued resilience of our jobs market is a testament to the benefit of this country having the most flexible labour market in Europe.
“However, this could be the lull before the storm. With continuing uncertainty from the eurozone and with thousands of new graduates and school leavers joining the labour market over the summer, it’s difficult to see how this upward trend can be sustained. Our data suggests that we’re likely to experience a zigzag recovery, with jobs figures getting worse before they get better again.
“Long term unemployment remains a real concern, especially among young people who face fierce competition for jobs. Being unemployed for more than six months can have real consequences for employability and prevention is the best cure. We really need the government to revisit the support it provides young people and make sure it kicks in earlier than under current schemes.”
Notes to editors
1. Page 2 of the summary from Labour Market Statistics, August 2021 released today reads “the number of people in employment aged 16 and over increased by 201,000 on the quarter to reach 29.48million, the largest quarterly increase since the three months to July 2010. The number of people in employment was 96,000 lower than the pre-recession peak of 29.57million recorded for March-May 2008.
2. Table 4 shows the private sector employs 222,000 more people this quarter than last, an increase of 1.0% and 374,000 more people than a year ago, a 1.6% increase.