Thursday, March 30, 2023
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There’s some good news in the face of ongoing economic uncertain, says KPMG

“It’s great news that unemployment is still falling and we can only hope that, with the last month’s numbers still fresh in the mind we’re beginning to see signs that the trend is that is heading towards the positive direction. However, we need to be careful not to blow the dust off of celebration bunting as of yet, because, in spite of those that have landed full-time jobs, the earnings potential for freshers is well lower than pre-recession levels.

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While the economy is benefited by the employment of skilled workers as well as a reduction in number of applicants but there’s still a gap in terms of discretionary income. And until that change occurs, we could remain in a vicious cycle.

A lot of attention is devoted at the prospects for growth and the stimulus to boost the economy however the reality is that sustainable growth can only be realized when the market for jobs is addressed at both ends in the range. If we don’t accomplish this, the cost of supporting those who seek work, along with the disappointment of a generation who has left the workforce could mean that the UK’s economy will be stagnant for a long period of time when the figures of today have been forgotten.”



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