The UK’s jobs surge of recent years should not be underestimated, just because it’s old news. With unemployment hovering just above 4 per cent all year it’s easy to forget that as recently as 2016 the Office for Budget Responsibility thought 5.5 per cent was as low as we could sustainably go. We live and learn.
We should learn from who the beneficiaries of such high employment levels are – as the chart below sets out. Those groups that generally find it hard in the labour market are the ones seeing rising employment. People with disabilities account for three-quarters of the gains and ethnic minorities for over a quarter (despite both accounting for just 13 per cent of the population). This should warn anyone against taking high employment for granted.
Chosen excerpts by Job Market Monitor. Read the whole story at Top of the Charts: 2018’s lesson for its successor – look beneath the headlines – Resolution Foundation