Employment trend moving “cautiously upwards”
The underlying trend in the employment market is moving “cautiously upwards”, according to new figures.
The Office for National Statistics (ONS) revealed that there has been a reduction in unemployment since the last quarter.
The unemployment rate for the three months to May 2011 was 7.7 per cent of the economically active population, down 0.1 on the quarter.
Phil Flaxton, chief executive officer of Work Wise UK, said that this was a positive step in the right direction.
Mr Flaxton added: “The climb out post-recession is going to be very, very slow and gradual. Rather than seeing unemployment go up by 300,000 we’re not seeing that trend, which has got to be welcomed.”
There was, however, a word of caution from Mr Flaxton, as an influx of young people onto the job market over the summer may cause a spike in unemployment.
There are currently 2.45 million unemployed people in the UK.