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 Tidal launch: The most pretentious lines from Alicia Keys' valedictory speech
- 3 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 4 Tidal: Jay Z's Spotify rival streaming service criticised for making wealthy artists even richer
- 5 Brixton squat flats now costing up to £3k per month show how out of control rent is in London
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
Revealed: Putin's army of pro-Kremlin bloggers
iJobs Money & Business
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...
£45,000 - £55,000: Loren Hughes: Are you looking for a new opportunity that wi...
Circa £45,000-£50,000 + benefits: Sheridan Maine: Are you a newly qualified ac...