""The only thing growing under Labour is the unemployment queue and the national debt. "The Conservatives left office with unemployment at near record lows and the fastest-growing economy in the G7. In just over a year, Labour has killed growth and crushed jobs and livelihoods, with families paying the price. "Keir Starmer has no backbone and is too weak to stand up to his own backbenchers to cut welfare and get people back into work."
""The UK economy needs a co-ordinated industrial strategy backed by serious investment. To do anything else risks workers in Britain being thrown on the scrap heap and rising unemployment. "Other economies like Germany are investing heavily in their industries and the UK is lagging way behind. "Chronically low investment and a failed net zero plan is delivering a jobless transition."
""Unemployment continues to edge up while job vacancies continue to fall. These are clear signs that employers are holding back on recruitment under the burden of soaring employment costs. "We would normally expect a loosening of the labour market to lead to an easing in average earnings. But, while the rate of growth has slowed, they remain above inflation"
Unemployment rose unexpectedly to 4.8% in the three months to August, the highest level since early 2021. The increase followed a drop in job vacancies and signals a loosening labour market. Opposition figures blamed Labour policies for weakened growth, higher national debt and potential tax rises that they say harm jobs and business confidence. Union leaders pointed to chronically low investment and a failed net zero plan, warning of a jobless transition and calling for a coordinated industrial strategy with serious investment. Business groups cited soaring employment costs that are causing employers to hold back on recruitment, while average earnings growth has slowed but remains above inflation.
Read at London Business News | Londonlovesbusiness.com
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