Great Graphic: Changes in UK employment since 2007

This Great Graphic from the UK's Office for National Statistics was tweeted by Duncan Weldon.   It shows the changes in the UK employment by age cohort since 2007. 

It shows clearly that improvement in the labor market has benefited 25-34 year olds and those above 50.  Those who have not benefited include young people (under 25 years) and for the 35-49 year olds.

The chart shows that in the beginning of the downturn, older workers got squeezed. However, by 2009, younger workers, especially 18-24 year-olds were finding it difficult to get jobs.  While this has stabilized, more recently the 35-49 year-old cohort suffered disproportionately. 

The first improvement came not from the young cohorts, but from the oldest cohort (65 years and older).  In the US, the increase in older workers has been attributed by some observers to the need to secure benefits.  This may or may not be true in the US, but it does not appear to be a good explanation in the UK and one cannot help to wonder if there is something else going on.    In any, event, They were joined in 2012 by the 25-35 year-old cohort, and increasingly by the 50-64 year-old cohort as well. 

Great Graphic: Changes in UK employment since 2007 Great Graphic:  Changes in UK employment since 2007 Reviewed by Marc Chandler on April 03, 2014 Rating: 5
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