18 August 2014
UK unemployment figures are down according to the latest ONS figures, however more needs to be done.
The latest figures from the Office for National Statistics (ONS) indicate that unemployment figures have dropped by 132,000 to 2.08 million.
Director at KPMG, Stephen Barter, says the ‘employment figures are being bolstered by clearly defined pockets of success. Services, for example, still account for over 70% of the UK economy and although the country’s industrial and manufacturing output has shown positive signs, it remains at lower than expected levels.
‘There has also been a lot of debate about spare capacity existing in the labour market. As more people join the workforce the challenge will be to ensure they fill gaps in the right places. Labour mobility remains an issue, meaning that employers will have to work hard to ensure a more balanced distribution of jobs.’
Commenting on the figures, the CBI focused on youth unemployment, stating that while youth unemployment fell to 16.9% but with 767,000 young still people out of work, more needs to be done.
CBI Director-General, John Cridland, said ‘The latest figures are very upbeat, but we cannot ignore the fact that far too many young people are still out of work. Youth unemployment was rising even in the good times and is still high enough to fill Wembley Stadium over eight times.
‘We cannot squander the talent of a generation and leave them at the back of the queue in life. Young people should be equipped with the skills they need to succeed and given the chance to show what they’re made of.’The business organisation has launched a report ‘Future Possible’, outlining how business, government and schools must re-double their efforts to prepare young people for work and deliver the career options and network of support they need.