IoD press release Further labour market cooling is welcome for business, but skills gaps remain a pressing issue
Commenting on this morning’s release of labour market statistics, that showed a small reduction in vacancies and increase in the employment rate, Alexandra Hall-Chen, Principal Policy Advisor for Employment at the Institute of Directors, said:
“Businesses will welcome continued signs of the labour market cooling, with vacancies decreasing on the quarter for the 25th consecutive period.
“However, the availability of skills and labour remains a pressing issue for employers, and economic inactivity remains significantly higher than prior to the pandemic. Without effective action to bring more people back into the workforce, sustained economic growth will be all but impossible.
“In addition, with wage growth remaining above inflation, the government will need to proceed carefully over the introduction of the Employment Rights Bill to ensure that it does not add significant further burden for employers.”
