LABOUR MARKET CONTINUES TO CREATE JOBS BUT PAY
GROWTH FAILS TO KEEP UP WITH INFLATION
The latest CBI Labour Market report show a labour market that continues to tighten, with employment figures largely unchanged, unemployment decreasing, and vacancies at a new record high. Real time Pay-As-You-Earn data for March 2022 showed that the number of payrolled employees saw a small increase, up by 35,000 to a record 29.6 million, in part due to an increase in full time employees. However, due to an increase in the rate of those who are economically inactive, the total number of workers in the labour market has decreased overall.