Today unemployment fell slightly according to official figures from the ONS this morning, which also revealed a rise in the number of people claiming job seekers allowance.
There have been a number of economic statistics in recent weeks giving mixed signals as to whether Britain is out of recession. We have a range of interesting businesses, experts/economists available to explain different angles and facets of what may be happening in the economy
Responding to today’s news Economist and author of Philanthrocapitalism Michael Green says,
“Today’s announcement that unemployment in the UK is holding steady at 7.8% is good news – but the recovery is still fragile and policy-makers should not read too much into it. Workers willingness to work part-time and pay restraint combined with the monetary and fiscal stimulus have helped to cushion the impact of this recession on jobs, but growth is still weak and could be hit by the troubles in the Euro zone, our major trading partner. The big mistake would be for policy-makers to take this announcement, along with the blip in inflation earlier this week, to move too quickly tighten monetary and fiscal policy. If they did so, the UK economy could slide back into the hole it is just starting to climb out of.”