Chamber on labour market information

Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, stated: 

“Right now’s information exhibits that whereas the labour market continues to chill, excessive wage progress remains to be a big concern for companies. Over three quarters of companies in Wales (76%) advised us that their organisation is below stress to boost its costs as a result of labour prices in our Quarterly Financial Survey for Q2. That is reflective of the broader UK image too, the place labour prices are additionally cited as the principle exterior stress on corporations.

“Challenges hiring employees additionally persist. Over half (57%) of companies in Wales skilled difficulties recruiting in Q2 and the British Chambers of Commerce’s current Quarterly Recruitment Outlook exhibits that corporations throughout all industries are dealing with elevated difficulties hiring employees.

“Attracting and retaining folks right here in Wales with the proper abilities is essential for companies and higher abilities planning between authorities, enterprise, academia and apprenticeship suppliers might deal with these points. Collaboration might assist people to develop into office prepared, align sector ambition with abilities wants and encourage companies to extend funding in coaching.”