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Scoop.it!
Those on Universal Credit must look for work outside their chosen field quicker or face sanctions. 
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Scoop.it!
Proof of the UK’s economic recovery can be seen in the surge in workers moving from one job to another, Bank of England officials claim.
Graham Watson's insight:
An interesting Bank of England aside that suggests a marginal improvement in labour market conditions, as workers have started to switch jobs with a frequency last seen in 2004. The Bank argues that this is because of increased confidence in the state of the economy. It is suggested that an increased rate of switching indicates that people are prepared to take a risk in the knowledge that if the switch doesn't work out, there are other jobs out there.
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The natural rate of unemployment is defined as the rate of unemployment that would occur in an economy if there were no cyclical unemployment. In othe
Graham Watson's insight:
Forgive me - I missed this particular birthday treat from Marginal Revolution University - a lovely summary of the Natural Rate of Unemployment. However, be warned, many (including the IB syllabus) argue that that Natural Rate of Unemployment also includes seasonal unemployment, as well as structural and frictional unemployment.
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There's been a change in unemployment policy, with the introduction of a scheme known as Way to Work. As a result, those people who are unemployed will be expected to look for jobs outside of the sector in which they've previously worked within four weeks of becoming unemployed or they will see their Universal Credit cut if they aren't looking hard enough or turn down a job offer.
It's designed to reduce frictional and structural unemployment - and that is a good thing. However, critics argue whether it's necessary - with job vacancies at record highs and the number of unemployed people relatively low, will it achieve its target of getting 500,000 people into work by the end of June.