Deloitte chief economist comments on today's labour market figures from the ONS

Commenting on the latest labour market figures, published by the ONS today, Ian Stewart, chief economist at Deloitte, said:

“The pace of recovery in the UK jobs market has been remarkable. Despite having suffered the biggest economic downturn in 300 years we are likely to see a peak in unemployment well below that of the financial crisis or the far milder recessions of the 1990s and 1980s.  

“Record job vacancies and continued growth will help drive unemployment lower in coming months. Crucially, low levels of redundancies suggest that the winding down of the furlough scheme is not leading to major job losses.”

Ends

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