Quote:
Originally Posted by parmnion
Out of work is 3.8 percent...
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Technically yes. But the stats for what is considered "employment" are totally skewed, to be considered "not unemployed" only requires ONE HOUR (and that's on average) of paid work per week.
Is that "employment" in any meaningful sense? One 5-hour shift a month on a zero hour contract? I would argue "no", and I would argue that meaningful employment stats would only include jobs that pay the equivalent of 16h @ min wage / week (currently just over £130 a week).
You'd get a much clearer picture of the employment situation that way.
Like I said, you can't measure the success of an economy based purely on "how many people have work". The type of work and available opportunities / prospects are just as important.