Chamber News: Business Pressures Persist As Labour Market Cools 

Jan 16, 2024

The Mid Yorkshire Chamber of Commerce is one of 54 chambers accredited by the British Chambers across the UK. Through this network, our team helps to facilitate local, national and international connections, support and representation for organisations of all sizes and from all sectors, right here in the mid Yorkshire region. 

Responding to the latest labour market data from ONS, Jane Gratton, Deputy Director Public Policy at the British Chambers of Commerce said:  

“Today’s data confirms labour market conditions are continuing to cool, with wage growth and the number of vacancies falling once again. However, labour costs remain a huge pressure on businesses dealing with a challenging economic environment. 

“Too many firms are still struggling to hire and retain staff. Our latest Quarterly Recruitment Outlook, showed over three quarters of firms attempting to recruit faced difficulties. 

“The skills crisis continues to cast a shadow over the labour market. To help tackle the problem, we need a more flexible apprenticeship levy, access to rapid upskilling and reskilling opportunities, and a long-term commitment to Local Skills Improvement Plans across England.  

“Businesses will be looking closely at the upcoming Budget for help to plug skills gaps and get more people into work.” 

MY Chamber is the go-to organisation for business across Calderdale, Kirklees and Wakefield, if you would like to discuss what this latest release means for your organisation on a local level, please contact our team.

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