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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

  • Recruitment

    Type:
    Indicators

    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.

  • Inflation

    Type:
    Indicators

    Updated to include official inflation data from the ONS for May 2020, along with the latest forecasts from our panel of economists. The next ONS release date is 15 July 2020.

  • 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 April 2020. The next ONS release date is 16 July 2020.

  • 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 16 July 2020.

  • Employees on payrolls drop 600,000 in two months

    Date:
    16 June 2020
    Type:
    News

    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.

  • Business confidence: private sector

    Type:
    Indicators

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

  • UK employment at all-time high before lockdown

    Date:
    22 April 2020
    Type:
    News

    The UK employment rate reached a record high before social distancing and coronavirus lockdown measures forced the closure of the majority of workplaces.

  • Labour disputes

    Type:
    Indicators

    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.

  • Type:
    Legal timetable

    The Health Protection (Coronavirus, Business Closure) (England) Regulations 2020 set out which businesses must close to prevent spread of coronavirus (COVID-19).

  • Businesses and unions react to UK 'lockdown'

    Date:
    24 March 2020
    Type:
    News

    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.

About this topic

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Economy: key resources

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