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Read the latest business news, blogs and thought leadership articles from our members, as well as updates on the Edinburgh Chamber of Commerce's work in the city.

News & Blog

BCC comments on labour market figures

Posted: 11th December 2018

Commenting on the labour market figures for December 2018, published today by the ONS, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“While the latest data confirms that the UK jobs market remains in good shape, the second successive rise in unemployment, coupled with a decline in the number of people who are not seeking work, is further evidence of the increasing tightness in the UK labour market. However, businesses report that the political and economic turbulence, together with significant difficulties finding the right staff, are diminishing recruitment intentions, which is likely to increasingly weigh on the UK labour market over the near term.

“With earnings growth increasing once again, the gap between pay and price growth is widening. However, any boost to consumer spending from stronger real wage growth is likely to be limited by weak confidence levels. The number of job vacancies remaining at a record high is further evidence of the worrying skills shortages plaguing UK businesses, which is constraining business growth.

“More must be done to support firms looking to recruit. Businesses are still waiting for the government’s long-delayed Immigration White Paper to shed light on how they will be able to plug local shortages in the future and find the skills they need to grow.”

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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