CBI / Pertemps labour market statistics update September 2018
Labour market statistics for May 2018 to July 2018 show employment increased by 3,000 and unemployment decreased by 55,000.
CBI/Pertemps labour market update September 2018
The ONS’ latest labour market data showed employment growth tailing off. But much of this seems to be related to a rise in inactivity — overall, the labour market remains tight, with unemployment still at its lowest since 1975.
The employment rate remains at a record high, with employment growth similar to the relatively strong rates seen over most of 2017.
While nominal pay growth has edged higher, the tightness of the labour market has still not stimulated stronger and more sustained real wage growth.
Across the UK, regions and nations have seen a mixed picture in employment and in unemployment levels.
Separate data on workforce jobs revealed some variation in job creation across different sectors.
Alpesh Paleja, CBI Principal Economist, said:
“While employment growth tailed off, much of this seems to be related to a rise in inactivity. Overall, the labour market remains tight, with unemployment still at its lowest since 1975.
“The flexibility of the UK’s labour market is a key strength of the economy, giving the UK a competitive edge on the world stage and allowing innovative businesses to grow and flourish.”
Responses