British employers' hiring plans have risen from an 18-month low, a survey showed on Monday, contrasting with other less upbeat signs from the labour market.
The Chartered Institute of Personnel and Development (CIPD) said its quarterly net employment balance rose to +22 from +18, bringing it back in line with its average over the past year.
"Despite the political uncertainty, employers have held their nerve and adopted a 'business as usual' approach to their hiring needs," CIPD economist Jon Boys said.
But the outlook for wages was more muted and the CIPD warned that weak productivity growth was likely to put the brakes on private-sector pay rises. Employers' average expectation for future pay settlements was unchanged at 2% in the three months to September. Private-sector employers cut their expectations to 2.2% from 2.5%, while public-sector expectations rose to 2.0% from 1.5%.
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