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'Graduates entering shaky UK job market'
Wednesday, 17 March 2010
Transport and utilities
Recent university leavers looking for graduate jobs in transport and utilities may be interested to hear that joblessness in the UK is deemed to be relatively high by European Union (EU) standards, CIPD analysis claims.
The CIPD claims that the UK is no better than a 'mid-table' performer in the EU log table of measured unemployment and that it also has a relatively high rate of 'hidden joblessness', HR magazine reports.
Its analysis of Eurostat figures shows that while the UK unemployment rate - eight per cent in the third quarter of 2009 - is below the EU average (8.9 per cent) of the other 26 EU member states, 13 have higher unemployment rates and 13 lower unemployment rates.
John Philpott, the CIPD's chief economic adviser, said: "The UK may draw comfort from having lower measured unemployment than the EU average but in truth we are no better than a mid-table performer in the EU jobless league.
"Taking 'hidden joblessness' into account makes the UK's relative performance look less impressive still, and once again highlights the scale of the macroeconomic and employment policy challenge that awaits us."
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