Topics

Economy

Sheila Attwood Editor's message: The state of the economy in which an organisation operates will impact on its level of business, and how easy, or otherwise, it is to recruit and retain the staff it needs. HR and reward professionals can keep track of inflation rates, labour market data and other key economic indicators to understand the context in which their organisation is recruiting, retaining and rewarding its 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. Despite both CPI and RPI inflation rising, this has yet to feed through into upward pressure on pay awards or earnings.

Sheila Attwood, managing editor, pay and HR practice

New and updated

  • Labour disputes

    Type:
    Indicators

    Updated to include official statistics from the ONS for October 2017 on days lost to labour disputes and the number of stoppages. The next ONS release date is 24 January 2018.

  • 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 October 2017. The next ONS release date is 24 January 2018.

  • Employment

    Type:
    Indicators

    Updated to include the latest official statistics from the ONS on employment and unemployment, and labour market forecasts from HM Treasury and ManpowerGroup. The next ONS release date is 24 January 2018.

  • Inflation

    Type:
    Indicators

    Updated to include official inflation data from the ONS for November 2017, along with the latest forecasts from our panel of economists. The next ONS release date is 16 January 2018.

  • Recruitment

    Type:
    Indicators

    Updated to include data for November 2017 on the availability and recruitment of permanent and temporary staff from IHS Markit/Recruitment & Employment Confederation. The next figures are due to be published on 9 January 2018.

  • New careers advice strategy unveiled by Government

    Date:
    4 December 2017
    Type:
    News

    The Government has promised that every school and college in the country will have a dedicated careers leader in place by the start of the new school year.

  • Business confidence: private sector

    Type:
    Indicators

    Data on the outlook for the private sector from CBI business surveys.

  • Government commits to skills and training in Industrial Strategy paper

    Date:
    27 November 2017
    Type:
    News

    The Government has released its flagship Industrial Strategy, aimed at boosting productivity and economic performance in the UK.

  • Budget 2017: National living wage rise confirmed at £7.83

    Date:
    22 November 2017
    Type:
    News

    There were few surprises for employers in today's budget, the first delivered since the snap general election in June.

  • Recruiters should offer flexible working option as "standard"

    Date:
    20 October 2017
    Type:
    News

    Flexible working options should be a standard offering in new roles if employers and recruiters are to meet the challenges of the labour market.

About this topic

HR and legal information and guidance relating to the economy.

Economy: key resources

Tools for pay specialists