IES labour market briefing note

The Institute for Employment Studies (IES) has published a briefing note with analysis of the Labour Market Statistics published this month. The analysis mainly draws on Labour Force Survey data covering September to November 2020, supplemented by analysis of Pay As You Earn Real Time Information data, the ONS Vacancy Survey and administrative data from the benefits system on Universal Credit and Jobseeker’s Allowance.

The figures suggest that the labour market had stopped deteriorating towards the end of last year and that the bottom may have been reached for the first part of the crisis.  IES says that the figures are not as bad as some reporting has suggested.  However while the labour market appears to have stopped reversing, it could probably best be described as stuck in neutral – with very little sign of any sustained recovery. 

Looking at impacts by different groups, young people continue to fare worse – but perhaps regaining some ground lost in more recent months and older workers starting to lose out more; and employment falling more for men than women.  These different impacts likely primarily reflect occupational and sectoral factors – for example young people benefiting more from the easing of restrictions in the autumn, and women from increased public sector employment.  We are also seeing some early signs of potential increases in job insecurity, with marked increases in involuntary temporary and part-time work in today’s data.

IES has also produced a briefing on the impact of Covid-19 on labour market statistics between July and September 2020 and you can view it at https://www.employment-studies.co.uk/resource/impacts-coronavirus-crisis-labour-market

https://www.employment-studies.co.uk/resource/labour-market-statistics-january-2021

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