Nick Walrond, Director at Sanderson Recruitment, shares his views on how we should respond to the latest Labour Market Statistics Report (May 2013).
The
Labour Market Statistics released yesterday presented us with an account of
falling employment rates (down 0.2% from Oct-Dec 2012) and an increasing
population of unemployed individuals aged between 16-64 (15,000 more since the
final quarter of last year). Yet we have to remind ourselves that such
unemployment data is a lagging indicator of the current health of our economy.
Expectedly, we saw a sharp rise in unemployment following the start of the recession in
2008, but
since then the figures have ebbed and flowed only modestly – reflecting the challenging conditions we have seen over
the last 4 years.
