IoD reaction to latest unemployment figures

Dated: 13 July 2011

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

“The joyless but not completely jobless recovery rumbles on. Unemployment is down 26,000 on the Labour Force Survey measure and up 24,500 on the claimant count. The good news is that private sector employment is up half a million year-on-year, but the bad news is that public sector employment is down 143,000 year-on-year and about to fall much more. Real earnings continue to fall with wage growth almost half the rate of inflation.”

ENDS

Contact Points

Edwin Morgan
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Institute of Directors, 116 Pall Mall, London SW1Y 5ED
Tel: +44 (0)20 7451 3392
Mob: +44 (0)7814 386 243
Email: edwin.morgan@iod.com
Website: www.iod.com/policy

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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  • In addition, the IoD provides an effective voice to represent the interests of its members to government and key opinion-formers at the highest levels. These include ministers, constituency MPs, Select Committee members and senior civil servants. IoD policies and views are actively promoted to the national, regional and trade media.
  • For further information, visit our website: www.iod.com
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