Employment levels will take years to recover, says report
Despite government boasts that total employment has hit record levels, there remains a 930,000 “jobs gap” in the British economy which will still be wide open in 2018, a think-tank has said.
The Resolution Foundation reached this figure by looking at the proportion of the available adult population in work. It found a huge gap between the actual number and the number that would be required to restore employment to its level in 2008.
And using the job growth projections of the Office for Budget Responsibility, the think-tank estimates that in five years’ time, the total UK employment rate will still be below the 60.3 per cent recorded before the global financial crisis, with a jobs gap of 770,000.
At the same stage in the economic cycle following the recessions of the 1980s and 1990s, the overall employment rate had recovered.
The Office for National Statistics said total employment slipped to 29.71 million in the first quarter. Unemployment rose by 15,000 to 2.52 million.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 Doctors remove 80 teeth from boy's jaw
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
Syrian teenager Usaid Barho reveals how he escaped from Isis using a suicide vest
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Immigrants make UK racist, says Ukip councillor Trevor Shonk
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...