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Deloitte’s chief economist: jobs market a standout success for UK
16 March 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:
“A better than expected drop in unemployment hands the Chancellor some much needed good news on Budget day.
“Despite global growth fears, the jobs market remains a standout success for the UK with record employment rates and more people in work than ever, even with a shrinking public sector.
“Earnings growth seems stuck around the 2.0% mark but, with inflation hovering close to zero, consumer spending power is on the rise.
“Lower unemployment, rising real incomes and cheap credit should keep consumers spending through 2016, providing a vital support for GDP growth.”
Notes to editors
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.