Recovery Fragile Despite Falling Unemployment

Recovery Fragile Despite Falling Unemployment

The economic recovery remains fragile despite new figures revealing that unemployment fell by 26,000 in the three months to May this year, business groups have said. Research from the Office of National Statistics (ONS) found that the rate of unemployment now stands at 7.7% or 2.45 million people, down from 7.8% in the previous quarter. The ONS also revealed that private sector jobs had increased by around half a million on last year. The British Chambers of Commerce (BCC) has predicted that firms in both the manufacturing and service sectors are expecting to expand their workforce in the next three months, largely due to boosted confidence in profitability and turnover However, the BCC said the UK’s recovery is still fragile, particularly when the Government is continuing to reduce ... »