REC Responds to Pre-referendum Labour Market Statistics

Commenting on today’s publication of labour market statistics by the Office for National Statistics (ONS), which reports data for April – June 2016, Recruitment & Employment Confederation Chief Executive Kevin Green says: 

“The UK labour market continued to perform well before the referendum, with today’s ONS data showing that unemployment remained at 4.9 per cent and employment grew by 172,000. We currently have an employment rate of 74.5%, the highest since records began in 1971. Our members tell us that clients continue to need more people in order to meet demand, be that permanent or temporary staff.

“It is encouraging to see wage growth continue to rise at 2.4 per cent, up on the month before. With inflation now predicted to exceed the Bank of England’s two per cent target next year, it’s important that employers use pay and benefits to retain their people as skill and talent shortages continue to be a problem.  

“Our Report on Jobs data for July showed a drop in permanent hiring immediately after the referendum, but it is still too early to draw conclusions about the implications for the vote to leave the EU on the jobs market. Today’s ONS data shows the jobs market fundamentals are strong and this puts the UK in a good position to bounce back from the initial shock.”  

Ends

Notes to editors:   

1. For more information, contact the REC Press Office on 0207 009 2157/2192 or pressoffice@rec.uk.com. An ISDN line is available for interviews on 0207 021 0584. 

3. Jobs transform lives, which is why we are building the best recruitment industry in the world. As the professional body for recruitment we’re determined to make businesses more successful by helping them secure the people they need. We are absolutely passionate and totally committed in this pursuit for recruiters, employers, and the people they hire. Find out more about the Recruitment & Employment Confederation at www.rec.uk.com