Deregulation of the labour market would boost employment further
23 January 2013
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Government must press ahead with labour market deregulation
Commenting on the latest unemployment figures, Prof Len Shackleton, Research Fellow at the Institute of Economic Affairs, said:
“Today’s employment figures again show a modest improvement in the labour market, with all the key indicators heading in the right direction. Unemployment on both the Labour Force Survey and Claimant Count figures is down, overall employment is up despite further cuts in the public sector, average hours worked are up and inactivity is down. There are concerns that youth unemployment has not fallen, and that the improvement in men’s position is greater than that for women. Regional disparities remain a big problem. Nevertheless, a positive picture, and one which suggests that the government is right not to listen to those who want it to reverse the policy of limited fiscal austerity. Instead it should press ahead with measures to deregulate the labour market and build on the trend shown in these figures.
“The continued resilience of the labour market contrasts with gloomy prognostications about output, and Friday’s GDP data may raise further questions about the way in which output and employment measures are related.”
Notes to editors:
To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Director of Communications: 020 7799 8909, slis@iea.org.uk
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
“Today’s employment figures again show a modest improvement in the labour market, with all the key indicators heading in the right direction. Unemployment on both the Labour Force Survey and Claimant Count figures is down, overall employment is up despite further cuts in the public sector, average hours worked are up and inactivity is down. There are concerns that youth unemployment has not fallen, and that the improvement in men’s position is greater than that for women. Regional disparities remain a big problem. Nevertheless, a positive picture, and one which suggests that the government is right not to listen to those who want it to reverse the policy of limited fiscal austerity. Instead it should press ahead with measures to deregulate the labour market and build on the trend shown in these figures.
“The continued resilience of the labour market contrasts with gloomy prognostications about output, and Friday’s GDP data may raise further questions about the way in which output and employment measures are related.”
Notes to editors:
To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Director of Communications: 020 7799 8909, slis@iea.org.uk
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
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