• BCC comments on ONS labour market data

    Commenting on the ONS labour market figures for January 2020, published, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:
     
    “The jobs market remains strong in the face of a challenging economic backdrop, with firms continuing to hire in large numbers.
     
    “However, falling job vacancies in Q4 compared to the previous quarter suggests that a subdued economy, lingering uncertainty and persistent recruitment difficulties are weighing on firms’ hiring decisions. If sustained, this could increasingly stifle jobs growth.
     
    “The dip in regular pay growth will put further downward pressure on consumers’ spending power, despite weaker inflation. Achieving sustained wage increases will remain problematic unless the underlying issues that continue to limit pay settlements - poor productivity, rising employment costs and a sluggish economy - are tackled.
     
    “More must be done to stimulate growth and productivity. With interest rates near to historical lows, there is little to be gained from further rate cuts. Instead the focus should be on using the upcoming budget to support firms looking to recruit and grow their business. Ministers should ease upfront business costs and comprehensively reform the Apprenticeship levy.”

  • Categories Categories

  • Did you know? Members can submit their own news and events to be posted on our website. Log in to get started

  • Subscribe to our newsletter Subscribe to our newsletter

  • * indicates required
  • Connect with us Connect with us

  • Doncaster Chamber
    Keepmoat Stadium, Stadium Way, Doncaster, South
    Yorkshire, DN4 5JW

    Tel: 01302 640100
    Email us

  • About the Chamber About the Chamber

  • Doncaster Chamber is a membership organisation representing the Doncaster business community, and is accredited by the British Chambers of Commerce.

    Doncaster Chamber of Commerce and Enterprise. A company Limited by Guarantee. Registered in England 368978.

    Memorandum and Articles of Association
    Privacy Policy
    Safeguarding Policy