IoD: Businesses are still struggling to access labour and skills

Commenting on this morning’s release of labour market data, Alexandra Hall-Chen, Principal Policy Advisor for Employment at the Institute of Directors, said:

“While the number of vacancies has reduced for the 26th consecutive quarter, for those employers looking to hire the decrease in the unemployment rate means that they are still struggling to access the labour and skills they need to grow and thrive.

“However, the decrease in economic inactivity is a welcome step towards getting more people back into the workforce. The Government should build on this momentum.

“Businesses will welcome the decrease in average earnings by 0.3 percentage points but, at 5.1%, it remains a significant inflationary pressure for employers.

“Our own research shows that over half of business leaders will be less likely to hire new staff as a result of the planned Employment Rights Bill. Therefore, it is essential that the Government starts meaningful consultation with businesses to get the details of the reform right.”