IoD press release Continued decline in job vacancies highlights need for government action
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:
“Despite a small increase in payrolled employees, the continued decline in job vacancies points to low business confidence in hiring new staff.
“The cumulative impact of recent employment reforms, coupled with upcoming increases to employer National Insurance Contributions and the National Living Wage, is significantly weakening the business case for hiring. Our latest data indicates that firms’ headcount expectations remain at historically low levels, comparable to those seen during the early stages of the COVID-19 pandemic in 2020.
“Immediate action is needed to address the mounting pressures on businesses and to restore confidence in the labour market. As the Employment Rights Bill approaches its Report stage, we urge the government to introduce targeted changes that will support employers and stimulate job creation. Our data shows that 41% of business leaders believe that such changes would do most to boost business confidence in 2025.”
