LABOUR MARKET CONTINUES TO STRENGTHEN

The latest data show further signs of recovery in the labour market, with employment increasing, unemployment decreasing, and vacancies reaching a record high. Real time Pay-As-You-Earn data for July 2021 also showed that the number of payrolled employees increased once again, up by 182,000 in July 2021 to 28.9 million. However, payrolls remain, 201,000 below levels seen before the pandemic, underscoring that a significant degree of slack remains in the labour market.

CNA International view

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