Work Foundation: job figures show return of business confidence

Commenting on today’s labour market statistics, Ian Brinkley, Director at The Work Foundation, said:

These are surprising but very welcome figures.

Claims that further deregulation of the labour market is needed to stimulate job generation look to be unjustified. Private sector employers clearly felt confident enough to hire in large numbers over the three months to March 2012.

However, the overall numbers disguise some underlying weaknesses.

The economy is still shedding full-time jobs, with all the increase accounted for by part-time work.

The latest figures confirm that underemployment is emerging as a significant problem in the UK labour market, with the number of people in part-time work because they could not find a full-time job up by 33% over the past two years.

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Unemployment falls by 45,000

Unemployment fell by 45,000 between January and March to 2.63 million, official figures showed today.