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MORE PEOPLE IN WORK BUT JOB CREATION RATE SLOWS - CBI

MORE PEOPLE IN WORK BUT JOB CREATION RATE SLOWS - CBI

The CBI today commented on the latest official labour market data, showing that employment rose by 100,000 in the three months to September and unemployment fell by 49,000. Youth unemployment remains a huge challenge, with the number of unemployed young people standing at 963,000 in the three months to September.

Neil Carberry, CBI Director for Employment and Skills, said:

"It’s encouraging that people are continuing to find jobs and that the unemployment rate is falling. But progress on getting people into work is much slower than we saw earlier in the year, and last month there was a troubling rise in the number of people claiming Jobseeker’s Allowance.

“Youth unemployment remains a concern despite the recent fall in overall numbers. Our focus should be on helping young people build the skills and aptitudes needed to get on in life and work.”

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Nicola McMahon, Associate at Charles Russell LLP said, “This month’s labour market figures showing a further decrease in unemployment will be hailed as a sign of improvement in the economy and that Britain has survived the double-dip recession. However, this has come alongside the statistics published yesterday indicating an increase in the rate of inflation, which is unlikely to abate due to the recently announced energy price hikes and will mean, therefore, that the effects of the October increase in the national minimum wage do not stretch very far for many workers. It is hoped that, as December approaches, employment levels continue to be bolstered by seasonal vacancies in the retail and entertainment industries.”

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