February Labour Market Statistics: comment from the Institute for Employment Studies
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Commenting on today’s figures, Naomi Clayton, Chief Executive at the Institute for Employment Studies said:
“Unemployment is edging upwards as hiring remains weak. Payrolled employment continues to fall, though at a slower rate, and vacancies appear to have stabilised. Rising unemployment and weak hiring means that there are more people looking for fewer jobs and, outside the pandemic, the unemployment-to-vacancy ratio is the highest in 10 years.
“Young people are being hit hardest, with youth unemployment at its highest in a decade. The government needs to work with employers to boost jobs and encourage hiring, while expanding support to help people find work.”
Read further analysis here.