Job vacancies and skills are often not matching up

Several developed economies are seeing increasing numbers of job vacancies but their unemployment rates are not going down. In some cases, they are even rising. What is happening is that many of the workers who lost their jobs to the economic crisis do not have the skills that the labour market now demands. “These skills mismatches mean that unemployed people … Continue reading

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Unemployment rises but could be flattening out

The headline figure shows that UK unemployment rose by 28,000 to 2.67 million in the three months to January, according to figures released today by the Office for National Statistics. This meant that the unemployment rate rose to 8.4% from 8.3% on the quarter, and this is the highest it has been since 1995. On the other hand there were … Continue reading

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“A slow, painful contraction in the jobs market”

This is the bleak outlook put forward by the Chartered Institute of Personnel and Development (CIPD) based on its quarterly survey of 1,000 employers in the private, public and voluntary sectors. The poll suggests that unemployment will rise in the fourth quarter as their net employment index, which compares the numbers of employers planning to hire workers against those expecting … Continue reading

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Small drop in UK unemployment

The number of people out of work fell by 17,000 to 2.48m in the three months to February according to the Labour Force Survey measurement. The Office of National Statistics also noted that this represented a fall of 0.1 percentage point in the unemployment rate, to reach 7.8%. However, the alternative measure of unemployment, the jobseeker’s allowance or claimant count, … Continue reading

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UK unemployment increases again

More bad news! Unemployment has risen, following on from yesterday’s rise in prices. Unemployment rose by 44,000 to reach almost 2.5 million in the three months to the end of December, according to statistics published by the Office for National Statistics earlier today. This gave an unemployment rate of 7.9%, which was up 0.1% on the quarter. The unemployment rate … Continue reading

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Over 20 per cent of young people now unemployed in the UK

In the three months to the end of November there was a rise in unemployment of 32,000 in the 16-24 year old category. This means that the number of young people without a job has now reached 951,000, which is the highest figure recorded since records began in 1992. Looking at the labour force as a whole, unemployment rose in … Continue reading

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Could there be a jobless recovery within the OECD?

“The recovery is underway but it will not be strong enough to bring the millions of new unemployed back to work” according to OECD Secretary-General, Angel Gurria, in a meeting with G20 labour ministers in Washington yesterday.  According to Gurria the major policy challenge is to balance two apparently contradictory needs: to tackle unacceptably high unemployment and simultaneously reduce unsustainably … Continue reading

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Headline unemployment falls but what lies beneath the figures?

In the three months to December, unemployment fell by 3,000 on the previous three months, to total 2.46 million. This gave an unchanged unemployment rate of 7.8%. There was also good news on the vacancies front, as these rose by 49,000 to 479,000. At the same time redundancies fell in the final quarter of 2009 by 36,000 on the previous … Continue reading

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Unemployment in the euro area tops 10 per cent

Unemployment in the euro area was 10.0% in December 2009, which is slightly up on the 9.9% figure for November, and compares with 8.2% in December 2008. When the wider EU27 is examined, the unemployment rate was 9.6% last December which compares with 9.5% in November and 7.6% a year ago.   The figure for the euro area is the … Continue reading

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Fall in claimant count unemployment

There was a fall in the number of people claiming Jobseeker’s Allowance, otherwise known as the claimant count, in November according to the ONS today. In fact the number fell by 6,300 over the previous month to give a total of 1.63 million out of work. This is the first monthly fall in this measure since February 2008.   The … Continue reading

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