Do all the people in work have real jobs?
The number of people in work is now at a record high. Over the last few years, all of the new jobs created are in the service sector, while manufacturing jobs have fallen. Equally, the proportion of people in part time posts has risen. But these jobs are largely filled by those who want to work part-time, not those who would prefer to work full-time. Certainly, employment has been growing most rapidly in sectors such as hotel and catering, which are traditionally less well paid. But even the more lucrative sectors – such as financial services – have seen sturdy rises in employment. Can the government achieve full employment? For one reason or another, there is always likely to be some people who are unable to find work and are left on the unemployment register. For this reason, “full” employment is unlikely to mean zero unemployment – historical evidence suggests that an unemployment rate of 2% is as close as we may be able to get. The best way the government can aim at getting to or b
