Latest statistics show the summer months have been good for jobs growth – but no clear signals of any upturn soon in either productivity or wages
Commenting on this month’s Labour Market Statistics released by the Office for National Statistics, CIPD Chief Economist, Mark Beatson, said: “Figures vary from month to month but employment has continued to grow, perhaps not as quickly as in the last three or four quarters, but still by enough to keep pace with a growing population and deliver a big reduction in unemployment. Vacancies continue to rise and this is in line with our recruitment intentions survey, which shows that employers expect to carry on recruiting. The numbers working for themselves also continue to grow strongly.
“At a time when many other European countries are struggling to create jobs, this is a considerable achievement. However, the new figures also show that pay growth remains very subdued and well below all measures of price inflation, so the improvements in productivity and pay that we are all looking for are still not in sight. Employers need to take advantage of the currently favourable recruitment climate to invest in upskilling their business and its people.”
Full press release published on www.cipd.co.uk
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