Unemployment Rate
This coverage examines how changes in the unemployment rate affect the UK retail sector, offering insights for executives, managers, and industry professionals. Reporting includes analysis of labour market trends, workforce availability, consumer spending power, and policy impacts, helping professionals understand the link between employment levels and retail performance.
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Jun- 2022 -27 JuneEconomy
Cost of living crisis could lead to ‘mild recession’, report warns
There is a rising risk of the UK economy falling into a “mild recession” due to the cost of living crisis, according to the latest economic report from KPMG. In its quarterly report, the ‘Big Four’ accounting firm said that the UK economy faces a number of global and domestic…
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16 JuneEconomy
BoE raises interest rates to 1.25%
The Bank of England’s (BoE) Monetary Policy Committee has voted to raise interest from 1% to 1.25% – marking its fifth rise in a row as it bids to offset the impact of rising inflation. The Monetary Policy Committee voted by a majority of 6-3 to increase the rate to…
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14 JuneEconomy
UK unemployment rate hits almost 50-year low
The UK unemployment rate is close to a 50-year low point, having dropped by 0.2% to 3.8% for February to April 2022, and those unemployed for up to six months increased over this three-month period, marking the largest increase since late 2020. According to the Office for National Statistics, the…
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Feb- 2022 -15 FebruaryEconomy
UK labour market sees recovery as unemployment falls to 4.1%
The UK labour market has seen “continuing recovery” as the unemployment rate decreased by 0.2% on the quarter to 4.1%, and employment rates increased by 0.1% in November 2021 to January 2022 to 75.5%. According to the Office for National Statistics (ONS), the ratio of vacancies to every 100 employee…
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Jan- 2022 -25 JanuaryCoronavirus
Study reveals areas hit hardest by Covid-induced retail insolvencies
Norwich has been revealed as the area hit hardest by Covid-induced retail insolvencies, according to a study by Wholesale Clearance. It revealed that between March 2020 and September 2021 Norwich experienced 8.27 businesses shutting down out of every 100 and a total of 49 insolvencies. It said that for Norwich,…
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18 JanuaryNews
Employment continues to rise
The UK shows ‘continuing’ recovery in the labour market, with employment continuing to rise, according to the ONS latest Labour Force Survey estimates for September to November 2021. It revealed in December 2021 there were 29.5 million employees in the UK, up 184,000 on the revised November 2021 level and…
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Jan- 2021 -26 JanuaryCoronavirus
Unemployment rises 5% to 1.7m
The UK unemployment rate rose by 5% in the three months to November with over 1.7 million people now out of work, according to the latest figures by the Office for National Statistics (ONS). Since February 2020, the number of payroll employees has fallen by 828,000, however, the ONS said…
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Oct- 2020 -13 OctoberEconomy
UK unemployment rises to 4.5%
The UK unemployment rate increased to 4.5% during the three months from July to August, the highest level in over three years. According to the latest figures from the office of National Statistics (ONS), the total number of unemployed increased by 138,000 to 1.58 million people. It comes as over…
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Sep- 2020 -15 SeptemberCoronavirus
Unemployment rate rises to 4.1% in July
The rate of unemployment in the UK increased 0.2% to 4.1% in the two months to July 2020, according to the ONS. The UK economic inactivity rate was also estimated at a joint record low of 20.2%, 0.6 percentage points lower than the previous year and 0.3 percentage points lower…
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Apr- 2020 -6 AprilCoronavirus
Temporary store closures due to coronavirus lead to 14% drop in retail jobs
The UK job market has been hit hard by the coronavirus outbreak, with retail jobs dropping by 14% in March, when comparing data with the previous year, according to the latest report from CV-Library. The study, which explores job market data from March 2020 and compares this with figures from…
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