22 February 2018

  |  CBI Updates Team

Update

CBI/Pertemps labour market update February 2018

The February ONS labour market release shows the highest rise in unemployment levels in five years and continued employment growth.

CBI/Pertemps labour market update February 2018

CBI/Pertemps labour market update February 2018.

This is possible because a large number of people who were economically inactive became employed or began looking for work.

The unemployment rate increased on the quarter, but remains close to a 42-year low. Employment continued to rise on the quarter, with growth similar to the relatively strong rates seen over most of 2017.

Although real wages continue to fall as nominal pay growth remained below inflation for an eleventh month, the decline was the smallest over that period as nominal regular pay growth rose to 2.5%.

Looking across the UK’s regions and nations, two-thirds of the country saw a rise in employment and most saw little change in unemployment.