CBI responds to labour market statistics

Labour market statistics for October 2019 to December 2019 show employment rose by 180,000 compared with the previous quarter, while unemployment is down by 16,000.

Alpesh Paleja, CBI Lead Economist, said:

“Employment has risen strongly again - and it’s great to see the number of vacancies rising, showing a growing appetite for hiring. Yet the strength in employment continues to be tempered by slowing pay growth and lacklustre productivity.

“By unlocking investment in skills, unleashing spending on innovation and pressing ahead with HS2, the upcoming Budget presents a golden opportunity to boost the UK’s long-term growth potential.”