- In the three months to January 2016, employment rose by 116,000 and unemployment fell by 28,000
- In the three months to January 2016, the youth unemployment rate was 13.7%, marginally more than reported last month, but still lower than the pre-recession low
- Annual growth in average earnings edged up to 2.1% including bonuses, and 2.2% excluding bonuses
Commenting on the UK labour market figures for March 2016, published today by the ONS, David Kern, BCC Chief Economist, said:
“Yet another set of positive employment figures confirms that Britain’s labour market remains a source of strength for our economy. However, if this cannot be translated into faster economic growth, higher employment will not be matched by gains in productivity.
“Growth in labour costs remains subdued despite rising earnings. This will enable the MPC to postpone any plans for raising interest rates or tightening policy.”