Responding to latest official figures on the rate of employment, Seamus Nevin, Head of Policy Research at the Institute of Directors, said:
“It is very positive news that yet again the UK unemployment rate has remained at 4.3%, its joint lowest rate since 1975. This is a reflection of the benefits a flexible labour market has given the U.K. in terms of making it easier to create jobs at a time when other economies might struggle.
“However, for a seventh month in a row wage growth fell behind inflation, this time by 0.4%. The battle in the new year will be to keep our strong jobs performance going while also tackling the effect inflation is having on take home pay.
“It’s also notable that the UK employment rate fell by 56,000 (44,000 net), perhaps a reflection of the recent fall in net migration. Employers will be grateful that the Government have finally agreed to guarantee the right to remain of EU citizens resident in the U.K. and we hope that, as we approach the Christmas holidays, their announcement will give these valued foreign born workers and their families the reassurance they need that Britain will remain an open and welcoming home for them in the new year and beyond.”