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. Despite both CPI and RPI inflation rising, this has yet to feed through into upward pressure on pay awards or 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 2018.
Prime minister Theresa May has vowed to fine company bosses who award themselves excessive bonuses while failing to protect workers' pension schemes.
Jeremy Corbyn yesterday vowed to end public sector outsourcing in the wake of the collapse of support services giant Carillion.
Thousands of workers face uncertainty after Carillion, the UK's second largest construction company, went into liquidation yesterday.
Updated to include data for December 2017 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 8 February 2018.
Four-fifths of companies worry that they will not be able to fill skills gaps in the coming year, according to the annual CBI/Pertemps Network Group employment trends survey.
Updated to include official statistics from the ONS on average weekly hours worked in the UK for the three months to the end of October 2017. The next ONS release date is 24 January 2018.
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 24 January 2018.
Updated to include official statistics from the ONS for October 2017 on days lost to labour disputes and the number of stoppages. The next ONS release date is 24 January 2018.
HR and legal information and guidance relating to the economy.