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 economic growth is very slow, the labour market is starting to ease and unemployment is slowly rising. With both CPI and RPI inflation measures at historically high levels, employees are struggling with the cost of living but employers are stepping in with additional support.
Sheila Attwood, senior content manager, data and HR insights