LONDON , Dec. 18 -- The British Chambers of Commerce issued the following news release: Commenting on the labour market statistics for December 2013 , published today by the ONS, David Kern , Chief Economist at the British Chambers of Commerce (BCC), said: "These are very strong labour market figures, which back our recent forecast of increased growth in the fourth quarter of this year. Employment is up, unemployment is down, inactivity is down, and while youth and long-term unemployment remain high, there has been an improvement in these areas. The strong growth in private sector employment at a time when public sector jobs are stagnating proves that businesses are up for the challenge, and are doing all they can to drive the recovery. "The only sticking point is that earnings growth remains below 1%. However inflationary pressures are now muted, given the recent fall seen this week. So despite the bigger than expected drop in the unemployment rate to 7.4%, the MPC should continue to ignore calls from the markets to raise interest rates prematurely. The MPC is now in a position where it can deliver a virtuous combination of low inflation and low interest rates, which is what will help businesses continue to grow, expand, and create jobs." TNS 18EstebanLiz-131219-30FurigayJane-4582957 30FurigayJane
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?