Labour market failed to absorb enough workers this festive season

Labour markets have been weakening in the last four weeks. The labour participation rate and the employment rate have fallen in each of these. The unemployment rate has bounced between 5.5 per cent and 7.8 per cent with an average of 6.8 per cent. But, this is almost inconsequential. What is important is that the labour markets were unable to absorb adequate proportions of the working age population during the festive season of 2020.   Labour participation touched a recent peak of 41.3 per cent in the week ended October 25. Since then, it has slid in each of the following four weeks. No.....

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