Today's fall in the Labour Force Survey of unemployment shows that the labour market has rebounded more quickly than in any previous recession since the 1970s.
Today’s fall in unemployment shows that the labour market has rebounded more quickly than in any previous recession since the 1970s.
Comparing the increase in unemployment across four recessions from the first quarter that unemployment rose to the first quarter in which it fell shows that the labour market is now more able to withstand the impact of the recession than in the past. It took 21 quarters for unemployment to fall during Margaret Thatcher’s first recession compared to just seven quarters in this downturn.
We’ll update with more analysis later on the good and bad news in today’s release.
9 Responses to “Unemployment shows quick rebound for labour market”
CVRepublic
Unemployment shows quick rebound for labour market (Left Foot Forward) http://url4.eu/1AoCO
Anon E Mouse
Will – Good news here…
Mark
It looks great at first sight but look closer. For if unemployment has fallen – good news – so has employment, and that’s bad news. There are fewer jobs and the jobs being created appear to be low paid and part time.
There’s some perceptive analysis of this at the FT’s Money Supply Blog: http://blogs.ft.com/money-supply/2010/01/20/uk-employment-and-unemployment-both-fall/
Jack Sutcliffe
VIA LFF – "labour market has rebounded more quickly than in any previous recession since the 1970s" – http://trunc.it/4vtet
Rebounding labour market no excuse for triumphalism | Left Foot Forward
[…] outlined earlier, today’s unemployment figures show the labour market is rebounding more quickly than in […]