Latest labour market figures - comment from the Chamber

Christian Spence, Research Manager at Greater Manchester Chamber of Commerce

Commenting on the latest labour market figures, Christian Spence, Head of Research and Business Intelligence at Greater Manchester Chamber of Commerce, said: “The latest release from the Office for National Statistics shows the number of people claiming Jobseeker’s Allowance in Greater Manchester fell in November by 3,660 to 38,125, the lowest since January 2005.

"The number of under-25s claiming fell by 1,380 to 7,535, the lowest since records began in 1985.

"Whilst these numbers are underestimating the number of people unemployed because Universal Credit claimants are not currently included in the statistics, the latest data continues to show that the region’s labour market is still improving, though the rate of reduction has slowed, perhaps indicating that the tightness in the labour market is beginning to show.

"This may place upward pressure on pay rates into the new year as employers are forced to compete ever more for the skilled labour they require.

"We expect that next month’s data for December will show a further sharp fall as seasonal hires for the Christmas period will be more visible at this time.”