Chamber news: Labour Market Tensions Remain 

Aug 13, 2024

The Mid Yorkshire Chamber of Commerce is one of 53 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 ONS labour market data, 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.  

“As hundreds of thousands of students receive A-level, T-level and vocational qualification results this week, employers will be eager to bring new talent into their businesses.  They will be looking beyond the technical and academic achievements to assess people’s real-world work-readiness and development potential.” 

More detail on the ONS data can be found here

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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