CBI responds to May 2023 labour market stats

Commenting on the latest labour market statistics, Matthew Percival, the CBI’s Director for People and Skills policy, said:

“While the gap between the number of vacancies and the number of job seekers continues to slowly fall, the UK labour market remains very tight and a constraint on growth.

“The outlook for pay and living standards are largely unchanged. Regular pay remains elevated despite rising interest rates and continues to lag behind inflation, leaving many households feeling the squeeze.”