Cartoon woman carrying boxes

IoD press release Firms continuing to hire as fast as they can

Commenting on this morning’s release of labour market statistics, that showed unemployment falling on the quarter to 3.8% in the 3 months to April 2022, Kitty Ussher, Chief Economist at the Institute of Directors, said:

“Today’s data shows firms are continuing to hire as fast as they can, with the number of people on payroll, and the number of vacancies, both rising in the last month. This suggests order books remain strong and there is still plenty of demand in the economy.

“Encouragingly for businesses struggling with staff shortages, more people are now also being tempted to re-join the labour market having slipped into inactivity during the pandemic: the employment rate is up 0.2% on the previous quarter. If this trend continues, it should make future vacancies easier to fill, and also reduce inflationary pressure.

“However, there are also early signs that the labour market is beginning to settle, with the rate of unemployment steadying at its new low level in recent months, a small increase in short-term unemployment, and a slowing of the rate of increase in vacancies.”

Better directors for a better world

The IoD supports directors and business leaders across the UK and beyond to learn, network and build successful, responsible businesses.
Internet Explorer
Your web browser is out of date and is not supported by the IoD website. It is important to update your browser for increased security and a better web experience.