Our response to latest Labour Market statistics
We responded to the latest ONS labour market statistics for December 2016 to February 2017, which showed a 39,000 rise in employment and 45,000 fall in unemployment.
Rachel Smith, CBI Principal Labour Market Economist, said:
“It’s good to see more people in work, and with the level of vacancies the highest on record, access to the right skills remains a key challenge.
“With inflation rising, real pay growth has fallen back for the third month in a row now. This remains a concern, so it’s vital that productivity increases if we are to see earnings head up.
“Developing a modern industrial strategy, making the most of a skilled workforce that delivers across the UK, will be key to helping firms give productivity a meaningful boost.”