Full employment is possible, says Brown

Manufacturing News, Source : TheManufacturer.com
Published : 09 Apr 2002 8:44

Chancellor Gordon Brown has insisted that the unemployment rate, already at its lowest for a generation, could be brought down further.

The percentage of working age people claiming unemployment benefits currently stands at 3.2 percent, marginally above the 26-year low of 3.1 percent touched last year.

"Over the past year, unemployment has fallen below that of Japan, it has fallen below that of America, and for the first time since 1945, below Europe, America and Japan together," Brown said at an event on Monday to mark the launch of employment research and lobby group the Work Foundation.

Brown commented that the country, which has emerged from last year's global economic downturn as the top performing economy in the Group of Seven richest nations, can push forward to a situation where all those who want to work can do so.

Brown said the four factors needed to achieve full employment were entrenched economic stability, higher productivity, better work force training and responsible wage negotiations.

He added that employment issues would be at the heart of his annual budget, to be presented on April 17, but declined to offer any details of the budget.

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