There are fewer job vacancies, and employment levels are rising – but that hasn’t yet resulted in any noticeable weakening of growth in real wages, says Jane Gratton, Deputy Director Public Policy at the British Chambers of Commerce.
She said: “This would suggest that competition for skills is still strong, and the substantial cost pressures of wages and interest rates will continue for longer. The rise in the number of economically inactive is also a cause for concern.
“The BCC’s election manifesto is clear that better skills planning is needed across the UK to boost productivity and growth. We must improve the training of staff, unlock the talent of people who have stopped looking for work and find ways to support the long-term sick back into employment.
“Getting the strong economic growth we all want to see will only be possible when the skills and workplace challenges are resolved.”
