IoD press release Incoming government must work with business to tackle the employment cost crisis
Commenting on this morning’s release of ONS labour market data, Alex Hall-Chen, Principal Policy Advisor for Employment at the Institute of Directors, said:
“Today’s data points to a stagnant and weak labour market, with the number of payrolled employees down 0.1% and job vacancies down 0.9% on the quarter.
“This ongoing decline in employer demand for labour is not inevitable; it is the result of a series of employment policy decisions over the past two years which have made hiring staff riskier and more expensive for employers. UK businesses are dealing with a crisis in the cost of employment manufactured by Government and, without a new approach, the situation will not improve.
“Supporting job growth by removing barriers to hiring must be a priority for the incoming Government, starting with meaningful tripartite negotiations on guaranteed hours reforms. The new Prime Minister’s commitment to driving economic growth across the country is welcome, but will mean little without action to bring down the cost of employment and boost job creation around the UK.”
