Unemployment figures bring further good economic news - but jobs outlook remains uncertain, says CIPD - Dr John Philpott, Chief Economic Adviser at the Chartered Institute of Personnel and Development (CIPD) commented below:
"It's clearly good news week for the UK economy. The inflation rate is down, unemployment is down, and pay pressure is down. However, while the jobs figures are apparently signalling green for go, they reflect an improvement in the labour market at the turn of the year and don't tell us anything much about the road ahead. Indeed, the most up to date figures for vacancies and claimants of Jobseeker's Allowance suggest that labour market conditions softened again in the early spring and it remains likely that unemployment will start to rise again later this year.
"Especially welcome in today's figures is a substantial rise in the number of people working full-time, although this was still insufficient to prevent a further increase in the number of people working part-time who would prefer a full-time job.
"The easing in pay pressure suggests that fears of an inflationary pay-price spiral remain unwarranted. This may be bad news for workers who are suffering a big squeeze on real earnings but is very good news for interest rate setters at the Bank of England and for the wider economy."
Above info source CIPD
So it is good news that there is a substantial rise in people working full time. Regardless of course whether employees are working full time or part time they should still be properly trained to ensure they are working efficiently.
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