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.
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9 Responses to “Unemployment shows quick rebound for labour market”
Will Straw
Employment #s shows quicker than normal rebound for labour market but no excuse for triumphalism http://bit.ly/8t4vsq http://bit.ly/4wV8F7
Richard Blogger
LFF comparisons of recovery of unemployment rates, now and Tory recessions, impressive! http://tinyurl.com/y983hdb
Richard Blogger
Not that it is unwelcome, but can it really be that good?
The economic consequences of Mr Dale | Left Foot Forward
[…] opposed by the Tories – has dampened the worst impact of the recession, particularly on the labour market. And yet, the British economy “remains very depressed” according to the National […]