IoD press release Skills and labour shortages remain a drag on UK business
Commenting on this morning’s release of labour market statistics that indicated little change in unemployment and economic inactivity rates in the three months to October, Alexandra Hall-Chen, Principal Policy Advisor for Employment at the Institute of Directors, said:
‘Although today’s data shows a slight decline in job vacancies, demand for labour remains strong.
‘Our own data shows that skills and labour shortages are consistently cited by business leaders as a significant pain point. These shortages drive inflation and inhibit business’ ability to grow.
‘In light of the government’s recently announced measures to reduce economic migration to the UK, measures to increase domestic labour supply are urgently needed to prevent these shortages from becoming more acute.’