Our latest analysis of trends in pay awards shows that private sector settlements have risen from 2% to 2.4% at the median, mainly as a result of companies acting to raise rates at the lower end of their pay structures to bring them into line with the new statutory minimum rates. Continue reading Viewpoint: Pay squeeze in sharper focus than before
This election is remarkable for the number of manifesto commitments relating to employment, especially those emanating from the opposition. In particular, Labour’s manifesto contains a 20-point plan for ‘security and equality at work’. And while the Conservatives’ manifesto is not as comprehensive as Labour’s, it contains a number of important statements, as well as revisiting previous manifesto commitments that have not yet been enacted. Continue reading General election: the parties’ policies on employment issues
The cost of living as measured by the all-items Retail Prices Index (RPI) rose to 3.2% in the year to February, up from 2.6% in the year to January, according to the latest data from the Office for National Statistics (ONS).
The main upward effect came from motoring expenditure – Continue reading Inflation rises sharply in March data from ONS
The labour market continues to perform strongly on the main measures, according to the latest statistics from the Office for National Statistics (ONS), for the period from November 2016 to January 2017. Employment has risen yet again and unemployment has fallen further. Economic inactivity is also lower, while redundancies and vacancies show little change. Continue reading Labour market continues to break records
Following the vote to leave the EU, we began to hear anecdotal evidence from retailers and other employers that many migrants from the ‘EU8’ countries that joined the EU in 2004, such as Hungary and Poland, were leaving the UK. Continue reading Viewpoint: Brexit, immigration and the impact on pay
With the winter holiday season almost at hand, two recent news items caught our eye. One is that trained chefs, an important component of the festive labour market, are in short supply. Continue reading Viewpoint: Not enough cooks spoil festive season outlook
The Office for National Statistics has announced that it is to make the CPIH its preferred measure of inflation, from March 2017. The CPIH, which includes a measure of housing costs, based on ‘imputed rents’, will take over from the CPI – which does not include any measure of housing costs – as the government’s main measure of changes in the cost of living. The switch to the CPIH is an attempt to overcome the shortcomings of the CPI in this respect. Continue reading ONS prefers CPIH measure
The latest inflation forecasts from our panel of City economists indicate that the cost of living, as measured by the all-items RPI, could reach 3% or higher in May 2017, with the release of official figures for the year to April 2017. Continue reading RPI inflation could reach 3% by spring 2017
Inflation as measured by the all-items Retail Prices Index (RPI) fell slightly this month, to 1.8% in the year to August 2016, down from 1.9% in the year to July, according to the latest figures from the Office for National Statistics (ONS). Continue reading RPI drops back slightly
Economists are divided over the prospects for inflation during the coming period. This is in line with the generalised uncertainty when it comes to the outlook for the economy as a whole. They all predict that the cost of living will rise, but differ when it comes to the likely rate of increase. Continue reading Forecasts: Inflation looks set to rise, but at what speed?