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 official statistics from the ONS for June 2018 on days lost to labour disputes and the number of stoppages. The next ONS release date is 11 September 2018.
Updated to include official statistics from the ONS on average weekly hours worked in the UK for the three months to the end of June 2018. The next ONS release date is 11 September 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 11 September 2018.
Two in five employers found it difficult to get the staff they needed over the past 12 months and have reported receiving fewer applications from "suitable" candidates, according to the CIPD and The Adecco Group.
Vacancies for both permanent and temporary staff increased at the quickest rate for eight months in July, according to the latest Report on Jobs from the Recruitment and Employment Confederation (REC).
Updated to include data for July 2018 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 7 September 2018.
Competition for job roles hit a record low in June, as the number of applicants per vacancy dropped to 0.38 from 0.40 the month before.
Around 10 million workers - 37% of the UK workforce - are worried that automation will change their jobs for the worse, according to in-depth research published to coincide with the launch of a new Commission on Workers and Technology.
A deal that would have saved 28 of 59 House of Fraser stores has broken down.
HR and legal information and guidance relating to the economy.