Hotels, restaurants and shops doing well but unemployment rising

Posted: Friday, 17 July 2009 @ 09:45

The economic news continues with its mixture of good and bad statistics as to the state of the economy.

The bad news is yesterday’s unemployment figures. These revealed that unemployment rose by 281,000 over the three months to May. There are now 2.38 million unemployed, which is the highest level since 1995. 7.6% of the economically active population are now unemployed, according to the Office for National Statistics, which compares with 6.9% over the three months to February.

There is some good news for the hotel, restaurant and retail sectors, however. According to an Open University Business School survey, hotels and restaurants reported an increase in sales of 27% this quarter, compared to 20% fall in the previous quarter; and sales in the retail sector showed a 23% rise compared to the previous quarter’s 27% fall. Let’s hope this is a sign of a sustainable recovery rather than just down to the recent hot weather.

Gary Cousins
Business Solicitor

Blog by Gary Cousins
Gary has been providing legal advice to shareholders, directors and business owners for over 25 years. Specialising in dispute resolution Gary is based in Birmingham with clients throughout the UK and overseas. View profile
Call Gary on +44 (0)121 778 3212 or by email
This blog is not intended to constitute legal advice, nor is it intended to be a complete and authoritative statement of the law, and what we say might be out of date by the time you read it. You should always seek legal advice to confirm whether or how any information in this article applies to your particular situation. We offer a free telephone consultation to discuss your particular circumstances.

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