IoD reaction to unemployment figures

Dated: 13 April 2011

Commenting on the fall in the unemployment rate to 7.8% and a fall in the total number of unemployed by 17,000 over the quarter, IoD economist, Inbal Robbas, said:

“ONS data shows a better picture for the labour market, and it is encouraging that the private sector appears to be offsetting job cuts in the public sector. Pay inflation remains very weak with the annual growth rate falling from 2.4 per cent to 1.9 per cent. These figures, in combination with yesterday’s CPI data, will encourage those members of the MPC who don’t want to raise interest rates at next month’s meeting.”

ENDS

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Notes to editors

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