Commenting on the recent Labour Market Statistics released by the Office for National Statistics, CIPD Chief Economist Mark Beatson said: “The headline in today’s figures is that UK employment has passed 30 million for the first time ever, with employment having increased by nearly half a million over the latest 12 month period covered by these figures. This shows how effective the UK labour market is at creating jobs and, with demand picking up and recruitment intentions strong, we can expect to see further jobs growth in the months ahead. We are also now beginning to see jobs growth having more of an effect on unemployment and, while it is too soon to be confident on this, some indications that youth unemployment is starting to come down – although it is still far too high.
“On the other hand, pay growth remains very subdued. Unless UK businesses use the improved economic climate to invest in their businesses and their people, we are unlikely to see wage growth pick up any time soon.”
As published on cipd.co.uk