Labour Market

Although ONS labour market figures invite opitmism, the government must not lose track of broader issues

Len Shackleton comments for

Len Shackleton, Editorial and Research Fellow at the IEA, has commented on recent ONS Labour Market Statistics that show a fall in unemployment, with 2.2 million having begun a new job between July and September.

In spite of this good news, however, Len points out that all is not quite as it may seem and that these statistics distract us from major employment concerns.

“Employment has been growing faster in the public sector than the private sector, and the total hours worked and the numbers in self-employment remain below the pre-pandemic level.”

“Temporary increases in pay may be a symptom of a labour market that is readjusting to a changed economy rather than part of a sustained upward rise in wages and prices.”

Read the full article here.