Wednesday, December 16, 2009
Very good news on unemployment
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Britain's labour market statistics continued to confound gloomy expectations, with the wider Labour Force Survey measure remaining just below 2.5m, after a rise of just 21,000 in the August-October quarter, the smallest since the spring of 2008. In fact this total reached a plateau of just below 2.5m 3-4 months ago. The unemployment rate was unchanged at 7.9% while employment, driven by a big increase in part-time work, rose by 53,000 to 28.93 million.

Most eye-catching of all was the fact that the claimant count fell by 6,300 to 1.63m, its first drop since February 2008. All very good news, consistent not only with a recovering economy but also a flexible labour market. More details here.