The labour market is continuing to give mixed signals as we enter the final quarter of the year.
While the Chamber-backed Local Skills Improvement Plan (LSIP) is engaging with businesses and higher education establishments, companies are still raising concerns about costs, training and upskilling their workforce.
Jane Gratton, Deputy Director of Public Policy at the British Chambers of Commerce, said: “The labour market is continuing to give mixed signals as the number of vacancies declines for the 25th time alongside persistently high levels of economic inactivity and falling unemployment.
“Employment costs also remain a major concern for employers, with real wage earnings still rising strongly, amid widespread recruitment difficulties and ongoing competition for skilled workers.
“Bridging the UK’s long-standing skills gap will be crucial to bringing more balance to the labour market. The focus must be on creating an education and training system that properly prepares young people for the world of work. It must help adults to return to work, stay in work, and continuously upskill and reskill for a rapidly changing workplace.
