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Posted 7 years ago •
The latest CBI Labour Market Update reveals that employment has fallen slightly for the first time in over two years.
Although this is a notable change, we should be cautious about drawing long-term conclusions from one quarter's data.
Some positive news is that unemployment continues to fall and remains at a 42-year low.
The labour market continues to send mixed signals with a continued softening of hiring intentions and vacancies, but easing pay pressures and a small decrease in long-term sickness for the fourth month in a row.
The labour market shows a gradual slowdown, with vacancies still above pre-pandemic levels, while pay rates remain high due to last year's inflation.
This month's labour market figures continue to show signs of gradual cooling, with the number of vacancies still falling and unemployment rising.