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Record-high employment figures could be short-lived

13 August 2019
Staircase rush
Michael McLaughlin, head of the employment practice at global legal business DWF, comments on the ONS UK labour market published today.

Michael McLaughlin said: 

"With the UK employment rate at 76.1%, the high rate of employment contrasts with the fact that in the last quarter, the UK's economy shrunk for the first time since 2012. It appears as though impending Brexit decisions are slowing down the economy as businesses collectively shut their eyes, hold their breaths and hope for the best. Depending on decisions made over the coming months, these record-high employment figures could well be short-lived. Factoring in the potential reduction to the gig economy and the possible loss of immigration workers in the service sector."

"Moreover, although employment rate are high, growth in wages is still slow and has been for years. Businesses are just paying more employees less money."


 

For more information, please contact:

Holly Fairclough, Communications Coordinator
Tel: +44 7840 648995
Email: Holly.Fairclough@dwf.law

Alternatively, contact the DWF press office on press.office@dwf.law   

 

 

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