Emily Stubbs, policy and campaigns manager at Greater Birmingham Chambers of Commerce, said: “Though labour market conditions remain significantly tighter than pre-pandemic, a continued ease in vacancies appears to be cautiously applying the brakes on nominal pay growth.
“That said, with inflation softening, these figures reflect the first time in almost two years that growth in average pay has outstripped increases in consumer prices, meaning that those in employment will feel their increased pay packets going further.
"Altogether, it’s a mixed picture for employers. Price pressures remain extremely high and many Greater Birmingham businesses continue to face difficulties accessing the skilled talent they need to weather current economic conditions and enable growth.
“Many will also be concerned about the impact of recent government announcements in the region."
