Concern for economy despite unemployment fall

The latest job market figures are again encouraging and support our assessment that the UK economy will grow over the next year, albeit at a modest pace. There are still some areas of concern. The claimant count has increased, youth unemployment is still too high, and half of the new jobs created in the last three months have been part-time. There is little doubt that the economy has been stagnant for too long, despite the positive GDP figures in the third quarter.