25 January 2018

  |  CBI Updates Team

News

CBI/Pertemps labour market update January 2018

The January ONS release paints a healthier picture of the UK labour market. However, the squeeze on wages continues.

CBI/Pertemps labour market update January 2018

CBI/Pertemps labour market update January 2018

Employment returned to growth on the quarter after a brief period of weakness, with growth similar to the relatively strong rates seen over most of 2017.

Unemployment was broadly unchanged on the quarter, with the rate still at a 42-year low. But a small margin of slack in the labour market remains.

Real wages continued to fall as nominal pay growth remains below inflation: living standards have now been deteriorating for nine months in a row.

Looking across the UK’s regions and nations, two-thirds of the country saw a rise in employment and most saw broadly unchanged unemployment numbers.