CBI responds to Labour Market Statistics

Labour market statistics for October 2018 to December 2018 show employment increased by 167,000 compared with the previous quarter, while unemployment decreased 14,000.

Alpesh Paleja, CBI Principal Economist, said:

“Against a backdrop of tepid economic growth and heightened uncertainty, the labour market continued to grow strongly at the end of 2018. While pay growth stalled, it’s still stronger than it has been for almost a decade, giving some relief to households’ budgets.

“Yet, productivity remains weak, posing a risk to the sustainability of the recovery in pay going forward. With the fog of political and economic uncertainty remaining thick, it’s important that politicians do not lose sight of this major challenge to the UK economy.”