Commenting on the labour market figures published today by the ONS, David Kern, Economic Adviser to the British Chambers of Commerce, said:
"Today's labour market figures confirm the worsening economic circumstances facing the UK. Unemployment is up, on both measures, and vacancies are down across most sectors. At the same time, the figures show falls in average earnings growth, both including and excluding bonuses. This supports our view that inflation is likely to peak in the next few months, making it possible for the MPC to consider interest rate cuts later in the autumn."