Something is very wrong if unemployment and labour shortages are both rising

Employers should be able to fill vacancies during times of dire economic straits, writes James Moore

The Tories are too busy indulging in politcal infighting and bad behaviour (Reuters)

The increase in unemployment, expected as a result of the economic malaise ushered in by a series of disastrous Tory missteps, may have begun. The Office for National Statistics likes to use a rolling three-month figure for its regular missives on the subject and today’s show a slight uptick, with the rate increasing from the 3.5 per cent recorded for June to August, to 3.6 per between July and September.

Now that’s hardly a big movement. The number of people out of work and seeking employment is still down year on year (when the figure was 4.3 per cent) and by comparison to the second quarter of this year (3.8 per cent). But the high level of vacancies has started to decline as employers react to the grim outlook by slamming on the brakes, further evidence that the tide has started to turn.

If I’m right, will this make things a little easier for those employers whose prospects and/or ability to provide services have been hamstrung by their inability to find people for the posts that need filling – even when taking into account the dire economic situation?