13 June 2018

  |  CBI Updates Team

News

CBI/Pertemps labour market update June 2018

The ONS’ latest labour market data painted a familiar picture —strong employment growth and falling unemployment.

CBI/Pertemps labour market update June 2018

CBI/Pertemps labour market update June 2018

But stubbornly slow pay growth means that living standards remain under pressure, so doubling down on efforts to boost productivity remains critical.  

Employment remains at a record high, with growth similar to the relatively strong rates seen over most of 2017, bringing the employment rate back to a joint record high since 1971.

Unemployment decreased once again, returning the rate to a 42-year low. A very small margin of slack in the labour market likely remains among those who would prefer to work longer hours or in permanent employment.

However, a period of stronger and more sustained real wage growth is needed to recover the real value lost over the last year.

Looking across the UK’s regions and nations, most have experienced a significant improvement in employment while unemployment levels have remained broadly unchanged.

Workforce jobs in most industries have remained largely unchanged, though some sectors such as IT, have registered more significant changes in the three months to March.