"The UK labour market has defied economic gravity"

Business quote of the day.

City workers in london. Photograph: Getty Images

The UK labour market has defied economic gravity.                

Scott Corfe, senior economist at the Centre for Economics and Business Research. Economists and politicians were polarised by yesterday's employment figures, with unemployment falling despite the UK economy contracting between Q4 2011 and Q2 2012. Labour said the figures masked the number of part-time of self-employed workers.