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Overview of the labour market [December 2001]

Marsh, Richard (2001) Overview of the labour market [December 2001]. Quarterly Economic Commentary, 26 (4). pp. 25-27. ISSN 0306-7866

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The majority of the Scottish labour market indicators clearly suggest that the labour market is cooling. Temporary employment during the Christmas period may help cushion this effect but a significant increase in unemployment is likely to occur from January onwards. Although many of the indicators are currently moving in a negative direction, they compare favourably to their position in the same period during the previous year. The figures for those economically active are also encouraging, when individuals move from employment there is a risk that they may leave the labour market altogether (at least on a temporary basis). The seasonally adjusted LFS figures suggest that the level of those economically active has at least remained stable despite the slack now appearing in the labour market.