CBI responds to labour market statistics: March 2018 - May 2018

Anna Leach, CBI Head of Economic Intelligence, said: 

“The labour market continues to confound expectations of a slowdown, with the employment rate at another record high and the unemployment rate the lowest since the 1970s.

“But despite high vacancies, pay growth has slipped to a six-month low, keeping up the pressure on people’s living standards. This leaves the MPC’s decision on a knife-edge when it meets to set interest rates in a couple of weeks’ time.”