CBI responds to labour market data
The CBI commented on the latest official labour market data, showing that employment rose by 80,000 and unemployment fell by 24,000 in the three months to July.
Stephen Gifford, CBI Director of Economics, said:
"These figures show the upturn in economic data we’ve seen through the spring and summer is starting to show up in job creation. Encouragingly, jobs growth in the private sector was more than three times greater than losses in the public sector.
"Despite better news on the direction of travel, youth unemployment is persistently high and growth alone will not address this problem.
“We’ve called on the Government to reduce employers’ National Insurance to help tackle this, and the launch of the Million Jobs campaign further emphasises the need for action to help young people enter a tough jobs market.”