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
Updated to include the outlook on the manufacturing industry from the CBI Quarterly Industrial Trends Survey, January 2020.
Updated to include official statistics from the ONS for November 2019 on days lost to labour disputes and the number of stoppages. The next ONS release date is 18 February 2020.
Updated to include official statistics from the ONS on average weekly hours worked in the UK for the three months to the end of November 2019. The next ONS release date is 18 February 2020.
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 18 February 2020.
Updated to include data for December 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 7 February 2020.
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The gap between the employment rate of 50- to 64-year-olds and under-50s may be at its narrowest in 25 years as the proportion of older workers grows far more rapidly.
Employers' hiring intentions are at their weakest in seven years with Brexit uncertainty, the general election and a slowing global economy all affecting their confidence.
Recent university graduates are having to take on second jobs in order to pay their rent and cope with rising living costs.
HR and legal information and guidance relating to the economy.