WIREDGOV

Labour market statistics for December 2017 to February 2018 show employment increased by 55,000 and unemployment decreased by 16,000.

Anna Leach, CBI Head of Economic Intelligence, said:

“Wage growth has now outstripped inflation for two months in a row. This could herald the beginning of a real improvement in living standards, which will be a boost for hard-pressed families. With the UK unemployment rate at a new record low, it’s clear that the labour market remains a key strength for the UK economy.

“The opportunity now is to make this stick for the long term. This data indicates that businesses are facing skills and labour shortages in many parts of the country, highlighting the need for a comprehensive deal on migration as part of the Brexit negotiations. An approach that restricts labour unnecessarily will simply restrict prosperity.”