Unemployment shows quick rebound for labour market

Today’s fall in unemployment shows that the labour market has rebounded more quickly than in any previous recession since the 1970s.

Comparing the increase in unemployment across four recessions from the first quarter that unemployment rose to the first quarter in which it fell shows that the labour market is now more able to withstand the impact of the recession than in the past. It took 21 quarters for unemployment to fall during Margaret Thatcher’s first recession compared to just seven quarters in this downturn.

Unemployment-fall

We’ll update with more analysis later on the good and bad news in today’s release.

http://twitter.com/cvrepublic/status/7984154660 CVRepublic

Unemployment shows quick rebound for labour market (Left Foot Forward) http://url4.eu/1AoCO
Anon E Mouse

Will – Good news here…
Mark

It looks great at first sight but look closer. For if unemployment has fallen – good news – so has employment, and that’s bad news. There are fewer jobs and the jobs being created appear to be low paid and part time.

There’s some perceptive analysis of this at the FT’s Money Supply Blog: http://blogs.ft.com/money-supply/2010/01/20/uk-employment-and-unemployment-both-fall/
http://twitter.com/jacksutcliffe/status/7987609794 Jack Sutcliffe

VIA LFF – "labour market has rebounded more quickly than in any previous recession since the 1970s" – http://trunc.it/4vtet
http://www.leftfootforward.org/2010/01/rebounding-labour-market-no-excuse-for-triumphalism/ Rebounding labour market no excuse for triumphalism | Left Foot Forward

[...] outlined earlier, today’s unemployment figures show the labour market is rebounding more quickly than in [...]
http://twitter.com/wdjstraw/status/7989462943 Will Straw

Employment #s shows quicker than normal rebound for labour market but no excuse for triumphalism http://bit.ly/8t4vsq http://bit.ly/4wV8F7
http://twitter.com/richardblogger/status/8002805435 Richard Blogger

LFF comparisons of recovery of unemployment rates, now and Tory recessions, impressive! http://tinyurl.com/y983hdb
http://torylies.blogspot.com/ Richard Blogger

Not that it is unwelcome, but can it really be that good?
http://www.leftfootforward.org/2010/03/the-economic-consequences-of-mr-dale/ The economic consequences of Mr Dale | Left Foot Forward

[...] opposed by the Tories – has dampened the worst impact of the recession, particularly on the labour market. And yet, the British economy “remains very depressed” according to the National [...]