mpc: 19 There had been little news from the labour market. On the Labour Force Survey measure, the
employment rate had edged up to 60.2% in the three months to September. Surveys had painted a
mixed picture: the Recruitment and Employment Confederation (REC) had pointed to declining staff
availability, but there had been a slight softening in the labour market according to the Chartered
Institute of Purchasing and Supply (CIPS). The latest labour market reports from the Bank's regional
Agents were also relatively soft. The Agents had carried out a special survey on migration during
November. The results of that survey were consistent with the Committee's view that migration had
been playing an increasingly important role in the UK labour market in the recent past, and was likely
to continue to do so in the near future.
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