Lack of labour will dent business post-Brexit

Today’s labour market statistics published by the Office for National Statistics (ONS), show wage growth continues with average weekly earnings for employees in the UK in real terms increasing by 0.4% excluding bonuses, and by 0.2% including bonuses, compared with a year earlier.

The unemployment rate was the joint lowest since 1975 at 4.2% down from 4.5% a year earlier. There were 32.40 million people in work, 137,000 more than for December 2017 to February 2018 and 388,000 more than for a year earlier.

Recruitment & Employment Confederation (REC) chief executive, Neil Carberry commenting on ONS figures:

Despite political turmoil and uncertainty, our jobs market is remarkably robust. Because the UK jobs market is flexible, few people who want to work are struggling to find it.

There may be more challenging times ahead as we move closer to leaving the European Union. With employment high, a comprehensive mobility deal is needed to stop lack of people being a brake on jobs and prosperity.’