20 July 2016

  |  CBI Press Team

News

Our response to ONS labour market statistics

Unemployment fell by 54,000 in the three months to May 2016 and employment rose by 176,000, according to the latest ONS labour market statistics.

Our response to ONS labour market statistics

Rain Newton-Smith, CBI Chief Economist, said:

“These figures confirm the UK labour market continued to create jobs ahead of the referendum vote, although there was some underlying uncertainty represented by falling vacancies and subdued wage growth.

“Prospects for the labour market are now more uncertain following the UK’s decision to leave the EU. This highlights the need for continued labour market flexibility, and to ensure the National Living Wage remains affordable for businesses, reflecting the broader economic situation.

“Ultimately, increasing productivity, including by ensuring everyone has the skills to meet their full potential, will help to share prosperity across all areas of the UK.”