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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 2018, along with the latest forecasts from our panel of economists. The next ONS release date is 19 September 2018.

  • Labour disputes

    Type:
    Indicators

    Updated to include official statistics from the ONS for June 2018 on days lost to labour disputes and the number of stoppages. The next ONS release date is 11 September 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 June 2018. The next ONS release date is 11 September 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 11 September 2018.

  • Employers report lack of candidates and pressure to increase wages

    Date:
    13 August 2018
    Type:
    News

    Two in five employers found it difficult to get the staff they needed over the past 12 months and have reported receiving fewer applications from "suitable" candidates, according to the CIPD and The Adecco Group.

  • Vacancies and salaries enjoy "summer bounce", says REC

    Date:
    10 August 2018
    Type:
    News

    Vacancies for both permanent and temporary staff increased at the quickest rate for eight months in July, according to the latest Report on Jobs from the Recruitment and Employment Confederation (REC).

  • Recruitment

    Type:
    Indicators

    Updated to include data for July 2018 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 7 September 2018.

  • Number of applicants per vacancy hits record low

    Date:
    6 August 2018
    Type:
    News

    Competition for job roles hit a record low in June, as the number of applicants per vacancy dropped to 0.38 from 0.40 the month before.

  • Workers fear automation will worsen their role

    Date:
    6 August 2018
    Type:
    News

    Around 10 million workers - 37% of the UK workforce - are worried that automation will change their jobs for the worse, according to in-depth research published to coincide with the launch of a new Commission on Workers and Technology.

  • House of Fraser rescue deal collapses with 17,000 jobs at stake

    Date:
    2 August 2018
    Type:
    News

    A deal that would have saved 28 of 59 House of Fraser stores has broken down.

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