ONS Figures Show Rising Employment Rate
Written by Geoff Newman on 2/15/2012
Figures from The Office For National Statistics have shown that the employment rate rose by 0.1 per cent in the final quarter of 2011, with more than 29.13 million people in employment.
The figures did also show, however, that unemployment remained at its highest rate since 1995, with 2.67 million unemployed people – a rise of 48,000 on the previous quarter.
Senior economist at the employment policy group The Work Foundation, Charles Levy, said that the statistics did offer some hope in terms of new recruitment and job creations. He warned, however, that more needs to be done on a grand, national scale to encourage recruitment both by large and smaller firms.
“Today’s labour market statistics offer us further hope that the economy was stabilising at the end of 2011,” he said. “However, the bad news is that the job market remains grim, with unemployment continuing to rise to record levels and a big shift towards part-time work. […] It will take several months of sustained job creation before we can expect to see unemployment fall significantly.”
Levy said that next month’s Budget must be used to boost business confidence and get companies hiring again, and that piecemeal growth measures are simply not enough to do that.