Economy

Sheila Attwood Editor's message: HR and reward professionals need to keep track of inflation rates, labour market data and other key indicators to understand the context in which their organisation is recruiting, retaining and rewarding their employees.

Official statistics from the Office of National Statistics show that despite slow economic growth, the labour market has held up well and unemployment has fallen. With both CPI and RPI inflation at low levels, this has yet to feed through into upward pressure on pay awards or earnings.

Sheila Attwood, managing editor, pay and HR practice

Latest items in Economy

  • Gig economy inquiry by Work and Pensions Committee launched

    Date:
    2 December 2016
    Type:
    News

    The Work and Pensions Committee has announced an inquiry into the UK welfare system's ability to adequately support the growing number of gig economy workers.

  • Taylor review on modern employment practices launched

    Date:
    30 November 2016
    Type:
    News

    The review looks into the impact of changes to the labour market, addressing questions on issues such as job security, wage levels and employees' rights.

  • Working hours

    Type:
    Indicators

    Updated to include official statistics from the ONS on average weekly hours worked in the UK for the three months to the end of September 2016. The next ONS release date is 14 December 2016.

  • Unemployment

    Type:
    Indicators

    Updated to include the latest official statistics from the ONS on headline unemployment and the claimant count, and labour market forecasts from HM Treasury and Manpower Group. The next ONS release date is 14 December 2016.

  • Inflation

    Type:
    Indicators

    Updated to include official inflation data from the ONS for October 2016, along with the latest forecasts from our panel of economists. The next ONS release date is 14 December 2016.

  • Apprenticeship levy

    Date:
    15 November 2016
    Type:
    Editor's choice

    New apprenticeship levy for large employers with a pay bill of more than £3 million per year will be payable with effect from 6 April 2017.

  • Recruitment

    Type:
    Indicators

    Updated to include data for October 2016 on the availability and recruitment of permanent and temporary staff from the Recruitment and Employment Confederation. The REC is due to publish new figures on 8 December 2016.

  • Employment tribunal decides Uber drivers are workers

    Date:
    28 October 2016
    Type:
    News

    Uber drivers are workers and are entitled to receive the national minimum wage and paid annual leave, according to an employment tribunal ruling that is being seen as a test case for the employment status of the gig economy's growing workforce.

  • Gig economy worker rights inquiry announced

    Date:
    27 October 2016
    Type:
    News

    The Business, Energy and Industrial Strategy (BEIS) Committee has launched an inquiry into the changing nature of work, and the status and rights of workers in non-traditional employment roles.

  • Labour turnover rates 2016

    Date:
    24 October 2016
    Type:
    Survey analysis

    The latest XpertHR research reveals employers' attrition rates, covering voluntary resignation and total labour turnover rates according to organisation size, broad sector and industry.

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HR and legal information and guidance relating to the economy.