IoD reaction to unemployment figures

Dated: 17 November 2010

Commenting on the latest unemployment figures, Graeme Leach, Chief Economist at the Institute of Directors, said:

“The employment and unemployment numbers don’t look too bad at all, and are likely to continue this way for a little time yet. However, they may give us a false sense of security. We expect the economy and the labour market will begin to weaken in 2011 as a result of the erosion in real take home pay, a low savings ratio and weak money supply growth. From a macroeconomic perspective, the spending squeeze comes well down at about 4th on our list of concerns”.

ENDS

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Notes to editors

  • The IoD (Institute of Directors) was founded in 1903 and obtained a Royal Charter in 1906. The IoD is a non-party political organisation with upwards of 45,000 members in the United Kingdom and overseas. Membership includes directors from right across the business spectrum – from media to manufacturing, e-business to the public and voluntary sectors. Members include CEOs of large corporations as well as entrepreneurial directors of start-up companies.
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