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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 September 2019, along with the latest forecasts from our panel of economists. The next ONS release date is 13 November 2019.

  • Labour disputes

    Type:
    Indicators

    Updated to include official statistics from the ONS for August 2019 on days lost to labour disputes and the number of stoppages. The next ONS release date is 12 November 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 August 2019. The next ONS release date is 12 November 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 12 November 2019.

  • Recruitment

    Type:
    Indicators

    Updated to include data for September 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 8 November 2019.

  • Business confidence: private sector

    Type:
    Indicators

    Updated to include the outlook on the financial services industry from the CBI/PricewaterhouseCoopers Financial Services Survey, September 2019.

  • Robots and automation: UK lags behind G7

    Date:
    19 September 2019
    Type:
    News

    Entire regions of the UK face being left behind and British businesses could find themselves being uncompetitive, unless the government steps up efforts to manage the transition to automation.

  • Missing out on training means low-skilled workers lose out on thousands

    Date:
    11 September 2019
    Type:
    News

    Employees that can't access training get trapped under a 'skills ceiling' that means they lose out on almost £12,000 a year in earnings, according to the Association of Accounting Technicians.

  • Hiring declines at fastest rate for three years

    Date:
    9 September 2019
    Type:
    News

    Political and economic uncertainty continues to affect the labour market as data from the Recruitment & Employment Confederation and KPMG showed that permanent placements fell at the quickest rate for more than three years.

  • Drop in EU migrants prompts urgent call for immigration transition period

    Date:
    22 August 2019
    Type:
    News

    The number of EU citizens moving to the UK to work has continued to fall, prompting business bodies to reiterate their calls for a transition period ahead of any new immigration system so employers can access the labour they need.

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