Deloitte Monday Briefing: What Sort Of Recovery Will It Be?

* In economics most silver linings come enveloped in clouds. A case in point is the resilience of the UK jobs market.

* On the face of it this is unadulterated good news. Despite a deep recession more people are in work today than ever. Mass unemployment did not materialise and this has softened the human impact of the UK's deepest recession since the 1930s.

* The "cloud" is that with more people producing less output per person – or productivity - has fallen sharply.

* In the last five years the total output of the UK economy has fallen by 2.9% and employment has risen by 0.7%. Productivity, the volume of goods and services produced by each working person, has dropped by 3.6%.