“The UK labour market continued to perform well before the referendum, with today’s ONS data showing that unemployment remained at 4.9 per cent and employment grew by 172,000. We currently have an employment rate of 74.5%, the highest since records began in 1971. Our members tell us that clients continue to need more people in order to meet demand, be that permanent or temporary staff.
“It is encouraging to see wage growth continue to rise at 2.4 per cent, up on the month before. With inflation now predicted to exceed the Bank of England’s two per cent target next year, it’s important that employers use pay and benefits to retain their people as skill and talent shortages continue to be a problem.
“Our Report on Jobs data for July showed a drop in permanent hiring immediately after the referendum, but it is still too early to draw conclusions about the implications for the vote to leave the EU on the jobs market. Today’s ONS data shows the jobs market fundamentals are strong and this puts the UK in a good position to bounce back from the initial shock.”
