There can be no doubt that the job market has been more resilient since the financial crisis than many imagined. Unemployment did not rise as far as was feared and the recovery in employment to pre-recession levels has been quicker than forecast by even the most optimistic labour economists. So, time for some self-congratulatory back-slapping among policy makers then? On the surface of things, at least, it looks like a jobs miracle, despite the belt-tightening of austerity.
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