Labour market figures confirm heightened risks to the economy
13/08/08 | 11:03
Commenting on the labour market figures published today by the ONS, David Kern, Economic Adviser to the British Chambers of Commerce, said:
"Today's labour market figures confirm the worsening economic circumstances facing the UK. Unemployment is up, on both measures, and vacancies are down across most sectors. At the same time, the figures show falls in average earnings growth, both including and excluding bonuses. This supports our view that inflation is likely to peak in the next few months, making it possible for the MPC to consider interest rate cuts later in the autumn."
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Media Contacts:
Fiona Cunningham
Tel: 020 7654 5812
Email: f.cunningham@britishchambers.org.uk
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Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk
Notes to Editors:
The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.