Wednesday, 6 February 2013
Another labour market puzzle
(larger version here)
(nb the scaling on this graph is wrong. RH and LH axes are both in millions, not 000s as stated).
Would anyone care to explain why UK employment seems to have risen hugely since mid-2011 but unemployment has only fallen a little in that time? And that was on top of an employment rise in 2010 that was not matched by an equivalent fall in unemployment. Who are all the additional people now in employment, why have they suddenly decided to start working and what are they doing?
Answers in comments, please. Or on email. Or on twitter. I really don't have an answer to this.