IoD press release Persistent labour market challenges require decisive action from government
Commenting on this morning’s release of labour market statistics that showed a drop in the number of vacancies and a fall in the unemployment rate in the three months to December 2023, Alexandra Hall-Chen, Principal Policy Advisor for Employment at the Institute of Directors, said:
“Despite a small decrease in the number of vacancies, businesses are still struggling to access the labour and skills that they need to thrive.
“The increase in the economic inactivity rate over the past year, driven by historically high numbers of people reporting being long-term sick, is a particularly worrying sign of structural issues in the UK labour market. Taken together with the government’s upcoming changes to legal migration rules, it is clear that urgent action is needed from government to increase domestic labour supply at the upcoming Spring Budget. Such measures should include delivering on the promised expansion to childcare provision and implementing measures to widen access to occupational health services.”