UK’s employment breaks a few records
The ONS said the employment total hit 29.5 million in the quarter, the highest since records first began in 1971. The number claiming jobseeker’s allowance in March fell by 1,200 to 794,300, the lowest total since 1975.
Don’t start shouting that it means the UK isn’t falling into recession because analysis’s are suggesting that the job market is weakening and with the economy falling on hard times this might be a short lived victory, though a victory non the less.
The ONS said the number of people claiming jobseeker’s allowance in February rose by 600, instead of a previously reported fall of 2,800. This was the first rise in this total since September 2006. Businesses are already moving to cheaper countries in terms of labour, corporation tax and less restrictions this is leading to job loses as well as the fact the retail market is failing and more ‘costs’ in the form of workers are being cit in order to save money.