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 2021.

  • Date:
    25 November 2021
    Type:
    Podcasts and webinars

    Webinar: Reward planning - expectations and priorities for 2022

    Cendex's Ed Cronin and XpertHR's Sheila Attwood provide data and insights to enable you to plan key reward activities for 2022, including pay rises, recruitment and retention and reporting on pay gaps.

  • Date:
    25 November 2021
    Type:
    News

    Pandemic drove changes in shape of workforce, not unemployment

    The pandemic has led to major shifts in labour market participation - rather than mass unemployment as feared - according to the Resolution Foundation think tank.

  • Type:
    Indicators

    Inflation

    Updated to include official inflation data from the ONS for October 2021, along with the latest forecasts from our panel of economists. The next ONS release date is 15 December 2021.

  • 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 2021. The next ONS release date is 14 December 2021.

  • Type:
    Indicators

    Employment

    Updated to include the latest official statistics from the ONS on employment and unemployment. The next ONS release date is 14 December 2021.

  • Type:
    Indicators

    Recruitment

    Updated to include data for October 2021 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 2021.

  • Date:
    27 October 2021
    Type:
    News

    Budget 2021: Pay rises, scale up visa and universal credit reforms announced

    Chancellor Rishi Sunak has confirmed wage increases for the lowest paid workers and public sector staff in his Budget today, as well as changes to Universal Credit (Wednesday 27 October).

  • Date:
    21 October 2021
    Type:
    Survey analysis

    Pay planning for 2021/2022

    As the economy slowly recovers and the war for talent heats up, pressure on salaries is greater than it has been for several years. We examine the likely impact on pay award outcomes over the coming 12 months.

  • Date:
    4 October 2021
    Type:
    News

    Chancellor extends Kickstart and Jets schemes

    The chancellor has committed £500m to renewing job support programmes including Kickstart and the Job Entry Targeted Support (Jets) scheme.

About this topic

HR and legal information and guidance relating to the economy.

Economy: key resources

Tools for pay specialists