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Increase in jobs and rising pay growth encouraging
The CBI commented on the latest official Labour market statistics, which showed that employment continued to rise, albeit not at the record rates we saw last month. Pay, particularly in the private sector, is beginning to pick up with earnings now moving closer to CPI Inflation as predicted in the CBI’s recent economic forecast.
Anna Leach, CBI, Head of Group Economic Analysis, said:
“Although the pace of employment growth has slowed from last month’s record rates, the fact that 193,000 more people found jobs is good news.
“It’s particularly encouraging that more people are finding full-time work and that there are fewer people turning to part-time roles because they could not find full-time positions.
“We expected wages and productivity to recover and the data suggests this has started to happen, with particularly positive signs on private sector pay.
“But with the unemployment rate remaining high at 7.2%, there is still a long way to go.”
