IoD reaction to Unemployment figures

Dated: 16 February 2011

Commenting on the latest labour market statistics, Graeme Leach, Chief Economist at the Institute of Directors, said:

“Unemployment is up and employment is down. This really is the feel bad recovery. Thankfully there is no evidence of a wage-price spiral developing, as wage pressure appears to be falling not rising. This is good news for those fearing an interest rate rise because rising wage inflation could have tipped the MPC towards an increase. The latest labour market statistics provide more evidence that a rate rise isn’t required.”

ENDS

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Edwin Morgan
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Email: edwin.morgan@iod.com
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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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