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BCC RESPONDS TO LATEST ONS LABOUR MARKET FIGURES

Record job vacancies suggest that the chronic staff shortages encountered by businesses are intensifying and this could derail the recovery by forcing firms into a more long-lasting decline in their operating capacity.

BCC responds to planned increase in National Living Wage

While businesses support the minimum wage, the size of this increase – with less than six months’ notice - will cause significant concern, especially with so many smaller firms already struggling.

BCC welcomes fresh skills funding

The Workplace Training and Development Commission, led by the BCC, has made it clear that considerable upskilling is needed to enable businesses across the country to grow and thrive.

BCC says £560m fund for adult numeracy a step in the right direction

With more than one million vacancies currently available much more needs to be done to close the skills gap and improving numeracy sits at the very heart of that.

Quarterly Recruitment Outlook: 9 in 10 Hospitality Firms Struggle to Find Staff

Attempted recruitment during Q3 was up on previous quarters with 61% overall attempting to recruit (52% in Q2). However, this uptick was followed by large increases in the proportion of respondents reporting difficulty in filling roles – 77% in Q3 (70% in Q2).

Business facing widening labour market gap

Recruitment difficulties are likely to dampen the recovery by limiting firms’ abilities to fulfil orders and meet customer demand. Business investment will then suffer, curbing any chance of a prolonged recovery.

‘A Thimble Of Water To Put Out A Bonfire’ - BCC On Temporary Visas For Drivers And Food Workers

BCC President, Baroness Ruby McGregor-Smith CBE said: “Government has made clear its priority is to transition from a reliance on EU workers to a focus on the domestic workforce, and businesses have been ready to participate in this, but it is a long-term project. “A managed transition, with a plan agreed between government and business, should have been in place from the outset. Instead, the supply of EU labour was turned off with no clear roadmap as to how this transition would be managed without disruption to services and supply chains.

BCC: Firms facing acute hiring crisis

The jobs market has continued its summer revival as demand for workers has surged following the easing of Covid restrictions. But record vacancies also highlight the acute hiring crisis faced by many firms.

BCC RESPONDS TO ONS LABOUR MARKET FIGURES FOR AUGUST

Commenting on ONS Labour Market statistics for August 2021 published today, BCC Head of Economics, Suren Thiru, said: “The latest figures confirm that the UK jobs market is recovering strongly as the boost to demand from the easing of restrictions helped drive higher payroll employment in July. "

RETRAINING ESSENTIAL AS 1 IN 5 FIRMS CONSIDER REDUNDANCIES POST-FURLOUGH

BCC calls for government to extend skills training as new research showed nearly 1 in 5 companies are considering staff redundancies as the next phase of furlough tapering begins.