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An Outlook on UK Labor Market

We will try to draw some inference from the labor report released by Office for National Statistics today. Comparing the period of October – December 2013 with the previous three months there was a large rise in the number of employed people and a fall in the number of people who were unemployed. On the above graphic we can see that the male employment was largely affected by the recession (2008-2009) and is still 1.2% points lower than in Q1 2008. However the female employment rate experienced little change in employment and in Q4 2013 the employment rate for women increased to 67.2% highest on record. Broadly the labor market seems to be in good shape and expected to be within the target this year as depicted from the data.