mpc: 19 The Labour Force Survey (LFS) had shown an increase in employment of just over 100,000 in
the three months to August compared with the previous three months. The employment and
unemployment rates had been broadly unchanged over the same period. The latest surveys continued
to point to softer hiring intentions than at the beginning of the year, and that was consistent with the
reports from the Bank's regional Agents. Although most of the evidence pointed to a softening of
labour market conditions, there were some contrary indicators. For example, the CBI
Quarterly
Industrial Trends Survey had pointed to a pickup in the balance of firms reporting skilled labour
shortages, while the REC
Report on Jobs had pointed to a stabilisation in the labour market.
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