6.8 C
Lancashire
Thursday, March 28, 2024

Market remains a source of strength for the UK economy

Commenting on the labour market statistics for December 2016, published today by the Office for National Statistics, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

“The labour market remains a source of strength for the UK economy. The number of people in work remains close to historically high levels, with unemployment levels continuing to fall.

“However, there are signs that the UK labour market may be beginning to cool, with a small fall in employment and the continued rise in the claimant count measure.

“It is likely that UK unemployment will start to drift upwards in the coming months, as uncertainty over Brexit and the increasing input costs faced by businesses weigh on jobs growth. However, while we currently forecast the unemployment rate will peak at 5.5% in early 2018, this is still well below the long-term average.

“It is vital that more is done to support firms looking to recruit and grow their business, including tackling the high input costs faced by businesses, and guaranteeing that existing EU workers can stay in UK firms.”

spot_imgspot_img

Latest

Burnley: Kompany staying clear of rivals’ PSR problems

Vincent Kompany is fully focused on Burnley’s bid to...

The Best New Betting Sites for April 2024

There are plenty of new betting sites emerging in...

Best UK Football Betting Sites For 2024

Football is the UK's biggest and most popular sport....

Free Bets: The Best Sign-Up Offers April 2024

When players sign up for a site for the...
spot_img

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Need some last minute egg-citing Easter gifts?

Who’s ready for a lovely relaxing long weekend? If...

How iGaming businesses build up players’ loyalty

In today’s online industry, smart iGaming businesses prioritise not...

Michael Gastauer: Impacting Lives Beyond Business

Michael Gastauer may be mostly known for his business...

More News

Going global: Lancashire International Trade Conference 2021

Some of the biggest names in international trade are gathering with county exporters for the Lancashire International Trade Conference. Designed to acknowledge the challenges and...

What More UK Agrees Export Deal with Sri Lanka

What More UK has agreed the terms of a deal which will see its products made available to the 20 million inhabitants of Sri...

East Lancashire housewares manufacturer What More UK has announced it’s adding Costa Rica to its growing list of export destinations, bringing the total up...

What More UK, owner of the market leading storage and housewares brand Wham, is a truly global organisation. Less than 12 months ago they...