Considering the state of the UK economy, the figures for employment appear to present a paradox. While GDP has fallen by around 4 percent since the start of the slump in early 2008, employment is down by less than 1 percent over the same timescale. And the latest official figures show that employment has actually increased over recent months. What is going on? How can the economy have flat-lined, while employment seems to be holding up?
01 September 2012