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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. Both CPI and RPI inflation measures show strong price rises, which is finally feeding through into upward pressure on pay awards and earnings.

Sheila Attwood, managing editor, pay and HR practice

New and updated

  • Inflation

    Type:
    Indicators

    Updated to include official inflation data from the ONS for July 2019, along with the latest forecasts from our panel of economists. The next ONS release date is 18 September 2019.

  • Labour disputes

    Type:
    Indicators

    Updated to include official statistics from the ONS for June 2019 on days lost to labour disputes and the number of stoppages. The next ONS release date is 10 September 2019.

  • 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 June 2019. The next ONS release date is 10 September 2019.

  • 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 10 September 2019.

  • Give workers more holiday to stimulate economic growth, report urges

    Date:
    12 August 2019
    Type:
    News

    Increasing minimum holiday entitlement and wages would help solve the UK's productivity crisis and stimulate economic growth, a think tank has suggested.

  • Recruitment

    Type:
    Indicators

    Updated to include data for July 2019 on the availability and recruitment of permanent and temporary staff from IHS Markit/KPMG/Recruitment & Employment Confederation. The next figures are due to be published on 6 September 2019.

  • Business confidence: private sector

    Type:
    Indicators

    Updated to include the outlook on the manufacturing industry from the CBI Quarterly Industrial Trends Survey, July 2019.

  • 'Good quality' jobs should be measure of industrial success

    Date:
    15 July 2019
    Type:
    News

    There should be an increase in "good-quality" jobs and an improvement in working conditions if the government's industrial strategy is to be a success - but this will require it to take a different approach, the TUC has argued.

  • Business secretary: 'no-deal Brexit will cost thousands of jobs'

    Date:
    15 July 2019
    Type:
    News

    Business secretary Greg Clark has warned that 'many thousands' of jobs will be lost if the UK leaves the EU without a deal.

  • Technical qualifications to be revamped to boost uptake

    Date:
    10 July 2019
    Type:
    News

    The education secretary plans to revamp the lesser-known Level 4 and 5 qualifications to encourage more students to study them and help meet employers' demand for the specialist skills they provide.

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