IoDsays unemployment and earnings data is good news for the UK economy

The Institute ofDirectors (IoD) today welcomed the latest labour market statistics which showedunemployment falling by 8,300, with the claimant count rate at 3.0% inDecember.

Commenting on thelatest earnings and unemployment data, Graeme Leach, Chief Economist at theInstitute of Directors said:

The Chancellor must havesmiled when he saw the latest labour market statistics showing fallingunemployment and earnings growth. His smile probably widened when he saw thatthe fall in earnings growth was driven by a fallback in public sector earningsgrowth from 5.4% to 4.8%, thereby alleviating some of the upward pressure onpublic expenditure.

Ends 14.1.04 No.225

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