15-10-2019

Jobs market shows "signs of slowing"

Jobs market shows "signs of slowing" - C&M Travel Recruitment
The UK jobs market could be slowing down after an unexpected rise in the unemployment rate, according to official figures.

The number of people in work fell by 56,000 against expectations of a 26,000 dip, meaning the unemployment rate reached 3.9 per cent between June and August and was up from 3.8 per cent in the previous period.

This remains near its lowest level in 44 years, but the Office for National Statistics (ONS), which released the data, said that employment growth had "cooled noticeably".

The report also found that salaries continued to rise faster than the rate of inflation, after wages excluding bonuses grew at an annual pace of 3.8 per cent. Average pay now stands at £509 per week adjusted for inflation which stands close to its pre-recession level of £510 per week.

However, vacancy numbers fell to 813,000 during the three months, which was the lowest total since the period of September to November 2017.

Speaking about the stats, Matt Hughes, Deputy Head of Labour Market Statistics at the ONS, said: "The employment rate is still rising year-on-year, but this growth has cooled noticeably in recent months. Among the under-25s, the employment rate has actually started to fall on the year.

"Pay growth continues to outstrip inflation, as it has done for over eighteen months now."

Elsewhere, the travel industry has been urged to do to more to reduce its impact on the environment.

Responding to the Environmental Audit Committee inquiry, the call came from ABTA which said that the government should help travel companies by incentivising alternative fuels, introducing a taskforce for decarbonising aviation and modernising UK airspace.

The association also said that the travel industry needs to adopt a sustainable tourism approach in order to meet the UK government's target of achieving net-zero carbon emissions by 2050.

By Owen Mckeon

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