The latest figures on the numbers claiming unemployment benefit showed a surprise drop of 13,700. This is saving approximately £60m in benefits per annum and assuming they are earning there will be the tax take on top. This yet again shows that it is unlikely that the country entered recession in the first 3 months of this year. We await the revised figure. Are we now moving in the right direction?
However, many of these jobs are part-time, 8 million now, and demand is still weak so the report card is "could do better". Self-employment has also reached a record figure of 4.1 million, up by 89,000 since the previous quarter. Self employment is a good thing and the small businesses will help us get out of this "recession".
Certain industry sectors are still being hit hard, such as retail, and there will be some impact from the recent administrations in this sector such as Game and Clinton Cards. Meanwhile the car industry is going from strength to strength!