UK labour market data, March 2017 - PwC comments
Published at 10:00 AM on 15 March 2017
In response to today’s UK labour market figures, John Hawksworth, chief economist at PwC, commented:
“UK jobs growth was more robust than expected in the three months to January, rising by over 90,000 compared to the previous three months. The momentum of jobs growth actually looks somewhat stronger now than a few months ago, while the unemployment rate fell to 4.7%, its lowest level since 1975. For the moment, the jobs market remains in fine fettle.
“There was less good news on average earnings growth, which fell back to just 2.2% in the three months to January. With consumer price inflation already up to 1.8% in January and set to rise further over the coming months, real earnings growth could be back in negative territory by the end of 2017. This is likely to dampen consumer spending, which could eventually feed through into slower jobs growth as well.”
For further information please contact Tilly Parke: firstname.lastname@example.org / +44 20 7804 8761
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. © 2016 PwC. All rights reserved