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 data for June 2020 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 August 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 April 2020. The next ONS release date is 16 July 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 16 July 2020.
The UK could be heading into an "employment crisis", commentators have warned, as the number of employees on payrolls dropped by 612,000 in two months.
Updated to include the outlook on the services industry from the CBI Quarterly Service Sector Survey, May 2020.
The UK employment rate reached a record high before social distancing and coronavirus lockdown measures forced the closure of the majority of workplaces.
Updated on 21 April 2020 to include a note from the ONS in response to the coronavirus pandemic and changes to the labour disputes section of the monthly labour market report.
A nationwide "lockdown" for everybody apart from key workers, announced by Boris Johnson last night, means that many employees will be working from home or unable to work at all from today.
HR and legal information and guidance relating to the economy.