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A job-rich recovery on every measure
17 April 2015
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:
“This is a job-rich recovery on every measure. The jobless rate has dropped to a six-year low, employment is at record levels and job vacancies have risen 20% in the last year. The recovery is being driven by full time work in the private sector, far outstripping public sector job losses.
“Despite these buoyant job numbers earnings growth has drifted up only slowly from last year’s lows. But with skills shortages emerging, and the jobless rate set to fall further, we see earnings growth accelerating through this year and next.”
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