Insight

Job Creation and Destruction in the UK 1998-2018

Using an established international analytical framework for job creation and destruction we observe that just over a quarter of all jobs in the private sector were either destroyed or created over a typical 12 month period – a remarkable level of turbulence in the UK labour market which provides a more granular analysis of the recent so-called ‘employment miracle’. Despite the rise in employment since the Great Recession there has been a slight fall in the measure of business dynamism which is a cause for concern given its importance to the overall level of productivity in the economy.

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