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23 January 2014

FSB comment on unemployment rate reaching 7.1%

Reference number: FSB PR 05/2014

Commenting on the unemployment rate reaching 7.1%, John Allan, National Chairman, Federation of Small Businesses, said:

"Another set of positive unemployment figures reflect what our members tell us about their recruitment intentions. While weak pay growth remains a concern, we are hopefully turning a corner with seven in 10 small firms intending to increase staff pay in the next 12 months. Despite improvements in the labour market, we would like to see a prolonged period of business confidence before the Bank of England''s forward guidance comes into effect and increases interest rates."