Jobs market starts to slow, as small business confidence cools, says FSB

Figures published today show that the number of people in work across Britain rose by 42,000 quarter-on-quarter to 31.09 million.

That leaves the employment rate little changed at 73.5 per cent (a record high), whilst unemployment has fallen to 1.82 million in the three months to July: 10,000 more than in February to April, but also lower than the 1.85 million recorded a month ago. Meanwhile average pay rose by 2.9% in the three months to July, compared to a year ago.

Gordon Millward, FSB regional chairman, said: “The jobs market continues to perform well, but recent data suggests employment growth is starting to slow.

“This goes hand in hand with FSB research which shows although small businesses are increasing headcounts for the 10th consecutive quarter, their confidence is not as strong as in previous quarters.

“The continuing good news on pay, up by 2.9% this month, shows that businesses are keen and increasingly able to share the rewards of success with their staff.”

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