Deloitte’s chief economist: The labour market recovery is shifting

Commenting on the latest labour market statistics, published this morning by the Office for National Statistics, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:

“The labour market recovery is shifting, with the pace of job creation cooling and earnings heading up. The underlying story is good for UK consumers. Private sector jobs and full time work are expanding. The UK has the lowest jobless rate in the EU after Germany. And real incomes are rising at the fastest rate in six years. The frenetic pace of job growth has slowed, but the good news is that wages and productivity should pick up from here.”  

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