The British Chambers of Commerce today released its Quarterly Recruitment Outlook for Q1 2021. The new figures show continued weakness in the job market in Q1, with 60% of the nearly 6000 businesses surveyed saying they had not attempted to recruit during the quarter. However, the percentage of firms expecting their workforce to grow in the next three months rose from 19% in Q4 2020 to 27% in Q1, the highest percentage since Q1 2020 and a return to pre-pandemic levels more broadly.
BCC says while it is a relief that the ratification of the TCA has gone smoothly, it is now vital that both the UK and EU work together to alleviate the significant disruption and difficulty which many firms continue to report.
Report finds that new ways of working introduced during the pandemic offer opportunities for both employers and staff, highlights how supporting employees’ mental wellbeing will become increasingly important, and says equipping school-leavers with skills to deal with new working arrangements will be vital.
Karima-Catherine Goundiam (KC) is the CEO of B2BeeMatch & Red Dot Digital, Founder of Tech Canada Advocates and will be speaking at BCC's Global Annual Conference on 16 June 2021. Ahead of the event, we asked KC some questions about what influenced her to speak at this year's virtual event and what she is most looking forward to over the two day virtual conference.
BCC says government proposals on Flexi-apprenticeships and a skills accelerator programme are positive moves
Commenting on ONS Labour Market statistics for April 2021 published today, BCC Head of Economics, Suren Thiru, said: "The latest data confirms that the UK labour market remains subdued. While there was a marginal fall in the unemployment rate, the squeeze on activity from ongoing restrictions helped drive a decline in payroll employment in March."
The British Chambers of Commerce today announced the publication of new research which shows a rising number of firms expecting their prices to increase significantly in the coming months. The figures also document growing concern among businesses over rising inflation. The data, drawn from responses from more than 5,800 firms, shows 2 in 5 businesses (38%) in Q1 2021 expect to see their prices increase in the next three months, an increase from 25% in the previous quarter. In contrast, only 5% of firms are expecting a decrease.
BCC says data for February 2021 shows modest growth and a further boost is likely as economy reopens but warns that continued improvement is not guaranteed.
The British Chambers of Commerce’s Trade Confidence Outlook for Q1, released today, has revealed the stark issues facing UK exporters in the first months of this year. The survey of more than 2,900 UK exporters revealed that the percentage of firms reporting decreased export sales had increased to 41%, up from 38% in the previous quarter. The percentage of businesses reporting increased export sales fell to 20%, down from 22% in Q4 2020. 40% reported no change in their export sales.
Responding to the publication of the Global Travel Taskforce Framework for International Travel, British Chambers of Commerce Director of Policy James Martin said: “The sector has been hard hit in the last year, with prolonged uncertainty about when the full resumption of travel will be possible. This framework provides some welcome clarity however much uncertainty remains around what countries will be on the green list come May 17th.