Topics

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

  • Type:
    Indicators

    Business confidence: private sector

    Updated to include the outlook on the services industry from the CBI Quarterly Service Sector Survey, November 2020.

  • Type:
    Indicators

    Inflation

    Updated to include official inflation data from the ONS for October 2020, along with the latest forecasts from our panel of economists. The next ONS release date is 16 December 2020.

  • Type:
    Indicators

    Working hours

    Updated to include official statistics from the ONS on average weekly hours worked in the UK for the three months to the end of September 2020. The next ONS release date is 15 December 2020.

  • Type:
    Indicators

    Employment

    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 15 December 2020.

  • Date:
    10 November 2020
    Type:
    News

    Job losses reach record high despite summer reopenings

    Redundancies hit a new record high in the late summer and early autumn despite the easing of lockdown measures, new estimates from the Office for National Statistics have shown.

  • Type:
    Indicators

    Recruitment

    Updated to include data for October 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 9 December 2020.

  • Type:
    Legal timetable

    Business closures or restrictions on business activities due to coronavirus take effect

    The Health Protection (Coronavirus, Restrictions) (England) (No.4) Regulations 2020 sets out which businesses must close to prevent spread of coronavirus (COVID-19).

  • Date:
    22 October 2020
    Type:
    Survey analysis

    Pay prospects for 2020/2021

    The coronavirus (COVID-19) outbreak has seen pay awards fall during 2020. We examine the pay intentions of private-sector employers to see whether or not to expect a recovery in the coming year.

  • Date:
    16 October 2020
    Type:
    Editor's choice

    Take part in our workforce planning during coronavirus survey

    Take part in XpertHR's workforce planning during coronavirus survey, gathering data on labour turnover, recruitment difficulties and readiness for Brexit.

  • Date:
    11 August 2020
    Type:
    News

    Employees on payrolls fall by largest amount in 11 years

    The number of employees on payrolls fell by 730,000 between March and July 2020 - the largest quarterly drop since 2009 - but recruitment bodies suggest there have been signs of recovery over recent weeks.

About this topic

HR and legal information and guidance relating to the economy.

Economy: key resources

Tools for pay specialists