Exclusive: London businesses shelve growth plans amid gaping skills gap June 29, 2023 London businesses are being held back by a shortage of staff who have the skills to excel in roles, exclusive research for City A.M. has found. Just over three in four firms in the capital are running into roadblocks when trying to find staff who have the necessary knowledge to propel their business, according to [...]
Inflation and growth fears weigh down UK manufacturing June 23, 2023 Higher interest rates, strong inflation and pessimistic expectations for growth are weighing the UK's services and manufacturing sectors.
WH Smith, M&S and Argos among hundreds fined for failing to pay minimum wage June 21, 2023 Hundreds of businesses including high-street heavyweights WH Smith, M&S and Argos have been named and shamed after being fined for failing to pay workers the minimum wage. Firms from sole traders to household names were ordered to repay 63,000 staff lost wages totalling close to £5m, after breaching National Minimum Wage (NMW) law. WH Smith [...]
‘Great un-retirement’ underway as cost of living forces people to get back to work June 17, 2023 A “great un-retirement” could be getting under way, according to Age UK, as rising living costs force people to change their later life plans. The charity said it is continuing to hear from older people whose retirement aspirations “are being ruined by the impact of inflation”. One person told the charity: “Had to take early [...]
Bank of England to hoist interest rates to 5.75 per cent as experts warn UK inflation is out of control June 13, 2023 The Bank of England will have to hike interest rates to their highest level since July 2007, the eve of the financial crisis, in a sign that markets think the UK has the worst inflation problem in the rich world. Traders ratcheted up bets on how high Bank Governor Andrew Bailey and the rest of [...]
Wages jump at fastest pace outside of Covid-19 but inflation erodes finances for 18th straight month June 13, 2023 Workers in Britain have pocketed the largest pay increases on record outside of the Covid-19 pandemic, but inflation is still sharply eroding their finances, official figures out today reveals. Numbers from the Office for National Statistics (ONS) showed the average worker in the UK received a 7.2 per cent wage increase in the three months [...]
Labour market loosens as UK records surge in job seekers following hiring slowdown June 8, 2023 The UK’s labour market recorded a surge in candidates looking for roles last month amid a continued slump in hiring, easing the rate of starting salary inflation. The supply of labour in the UK increased for the third month in a row, with the rate of people looking for jobs increasing at its fastest rate [...]
Amount of time it takes to hire workers drops to seven year low of just over a month May 23, 2023 The amount of time it is taking businesses to hire staff has slimmed to its lowest level in seven years in a sign friction in the jobs market is beginning to unwind, new research out today shows. Employers left roles advertised on job boards on average for 37 days over the last year, down from [...]
Pint pourers pocket 11.3 per cent pay rise beating UK average amid staff shortage May 22, 2023 Pub workers are raking in some of the biggest pay rises in the UK caused by landlords stepping up benefits in a bid to lure and retain staff, new figures out today show. Wages for people working in the country’s drinking holes climbed 11.3 per cent over the last year, higher than the hospitality sector’s [...]
Britain firmly on path away from recession as hiring and growth ramp up May 19, 2023 Britain seems almost certain to dodge a recession this year as two new surveys out today reveal businesses are hiring at the strongest pace in half a year and families are upbeat about their finances. Numbers from Lloyds Bank show nearly every sector of the UK economy stepped up headcount last month. Hiring was led [...]