Deloitte chief economist – UK seeing “job-rich recovery”
17 September 2014
Commenting on the latest labour market statistics published this morning by the Office for National Statistics, Ian Stewart, chief economist at Deloitte, said:
“The UK is seeing a job-rich recovery driven by a boom in private sector hiring and self-employment. For every job lost in the public sector in the last year, 3.7 jobs have been created in the private sector.
“Crucially, a majority of the new jobs created are in full time employment. Wages remain the missing link in this recovery. But with job vacancies up by 25% in the last year and unemployment at a six year low we see earnings heading up from here.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
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