In The impact of the recession on the labor market, a report by the Office of National Statistics UK, published in May 2009, it was concluded that -

“In this recession, the real earnings indicator and productivity measures (unit wage costs and output per worker) have demonstrated changes consistent with previous recessions.

Real earnings have fallen, but as inflation has fallen they have shown some positive growth. The unit wage costs and output per worker in past recessions have responded quickly to upturns in output. This fits with the slower falls of unemployment and claimant count as firms look to use spare capacity first, as the economy expands.”

Companies are beginning to hire again. The HR Magazine announced the creation of new jobs across the UK in 2009.

Read more…