Commenting on the news that Scottish unemployment fell by 15,000 in the three months to December 2014, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
“Scotland’s lowest level of unemployment in six years is a remarkable achievement, particularly at a time when our population is at its highest ever level. Businesses have been optimistic and have been willing to take on new employees to deal with rising levels of activity. These trends were strong throughout 2014 and it is no surprise that we ended the year on a high.
“In the early part of 2015, we have experienced some headwinds in terms of the effects of sustained low oil prices on our oil and gas sector and in terms of the challenges facing the Eurozone, our largest export market. However inflation is at an historic low, as are interest rates, and rising real wage levels give some hope that consumer demand, accompanied by early signs of investment growth, can sustain growth in the Scottish economy this year.
“The Scottish Chambers of Commerce Economic Indicator has detected signs that employers are increasing investment in their staff and this bodes well for future productivity levels. This is extremely important as getting people into work is only part of the story. It is building up skills of new and existing employees that will keep us on a path of growth.”