Tentative sign of pay growth returning – reaction to labour market statistics

Labour market statistics for November 2017 to January 2018 show employment increased by 168,000 and unemployment increased by 24,000.

Matthew Percival, CBI Head of Employment, said:

“These figures show another tentative sign of a return to real pay growth, which, alongside yesterday’s fall in inflation, points to an easing of the pressure on household incomes.

“There has also been an increase in the number of people looking for work, which will be welcomed by the growing number of employers struggling with acute labour and skills shortages.

“While companies have welcomed the agreement in principle of a status quo transition that maintains EU workers rights, the significant number of EU migrants leaving is a reminder that the UK must remain an attractive place to work.”