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
A downturn in the restaurant sector has led to a decline in job vacancies of 11% over the past six months, states a report published today.
Updated to include official statistics from the ONS for March 2018 on days lost to labour disputes and the number of stoppages. The next ONS release date is 12 June 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 March 2018. The next ONS release date is 12 June 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 12 June 2018.
There will be strong growth in the demand for labour in the second quarter of 2018, according to the CIPD, with near-term employment expectations rising to a five-year high.
Updated to include data for April 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 8 June 2018.
With less than a year to go until Brexit, 96% of HR professionals and recruiters have said it is having an impact on their hiring strategies.
Updated to include the outlook on the manufacturing industry from the CBI Quarterly Industrial Trends Survey, April 2018.
Almost a third of jobs in London could be automated in the next 20 years, but automation could be accelerated by wage pressure and labour shortages after Brexit.
HR and legal information and guidance relating to the economy.