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Deloitte’s chief economist: job-rich recovery needs wage boost

20 January 2016

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:

“Job creation has been the standout success for the UK economy since the recession. Record employment, tumbling unemployment rates and soaring vacancies testify to a job-rich recovery.

“But the missing link is strong and sustained wage growth. With inflation likely to edge higher this year, earnings need to bounce back to maintain consumer spending power and the momentum of growth.”

End

Note to editors

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

Mark Smith
Deloitte LLP
+44 (0)20 7007 7082
+44 (0)75 9004 1301
marksmith@deloitte.co.uk

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