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Stuart Gentle Publisher at Onrec

Labour market remains resilient but Brexit impact is uncertain say CIPD

In response to the latest Labour Market Statistics, released today by the Office of National Statistics, CIPD Acting Chief Economist Ian Brinkley said:

“This is another set of positive figures, with employment growing, unemployment falling and stable wage growth. It is still too early to see a Brexit effect, as the statistics cover the three months to the end of June.

“They do suggest, however, that in the short term the labour market remains resilient. While our recent Labour Market Outlook survey of employer intentions clearly signals tougher times ahead, any downturn in the labour market associated with Brexit is likely to be relatively mild and temporary.

“Employers should, therefore, continue to take a strategic approach to investment in people and new technologies, and invest to address long-term challenges like improving productivity, rather than be blown off course by short-term pressures.”