Latest news with #employerconfidence
Zawya
30-06-2025
- Business
- Zawya
UK business confidence levels hit highest since 2015, Lloyds says
LONDON: Confidence levels among British employers hit a fresh nine-year high this month as companies became more optimistic about the outlook for the economy, according to a survey published on Monday. The Lloyds Bank Business Barometer rose by one point to 51%, the highest since November 2015, adding to an 11-point jump in May following a tumble in April when U.S. President Donald Trump announced a big jump in import tariffs, many of which have since been suspended. The survey's measure of economic optimism touched a 10-month high, rising by a point after a 16-point increase in May. Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking, said a rise in hiring intentions - with 60% of firms expecting higher staffing levels in the coming year - suggested employers were starting to prepare for future growth. The Bank of England is watching Britain's jobs market closely as it tries to gauge how much inflation pressure remains in the economy. Governor Andrew Bailey said last week that he saw signs of a slowdown in the labour market, due in part to the government's tax increase for employers, which began in April. But the Lloyds survey showed wage growth expectations rose for a second month in a row, with 36% of respondents forecasting average pay increases of 3% or more. Separate figures published by jobs website Adzuna showed UK staff vacancies edged down in May from April but rose by 0.5% compared with May last year, the third such increase in a row after more than a year of falls. "May reinforced the sense that the job market in the UK is gradually regaining its footing," said Andrew Hunter, co-founder of Adzuna. The Confederation of British Industry (CBI) said its gauge of expectations among businesses about the economy over the next three months were less negative than in May but remained weak after the tax increase on employers and geopolitical upheaval. "Companies are still grappling with higher employment costs, cautious spending behaviour on the part of households and increasing global uncertainty," said Alpesh Paleja, the CBI's deputy chief economist. (Writing by William Schomberg; Editing by Helen Popper )
Reuters
29-06-2025
- Business
- Reuters
UK business confidence levels hit highest since 2015, Lloyds says
LONDON, June 30 (Reuters) - Confidence levels among British employers hit a fresh nine-year high this month as companies became more optimistic about the outlook for the economy, according to a survey published on Monday. The Lloyds Bank Business Barometer rose by one point to 51%, the highest since November 2015, adding to an 11-point jump in May following a tumble in April when U.S. President Donald Trump announced a big jump in import tariffs, many of which have since been suspended. The survey's measure of economic optimism touched a 10-month high, rising by a point after a 16-point increase in May. Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking, said a rise in hiring intentions - with 60% of firms expecting higher staffing levels in the coming year - suggested employers were starting to prepare for future growth. The Bank of England is watching Britain's jobs market closely as it tries to gauge how much inflation pressure remains in the economy. Governor Andrew Bailey said last week that he saw signs of a slowdown in the labour market, due in part to the government's tax increase for employers, which began in April. But the Lloyds survey showed wage growth expectations rose for a second month in a row, with 36% of respondents forecasting average pay increases of 3% or more. Separate figures published by jobs website Adzuna showed UK staff vacancies edged down in May from April but rose by 0.5% compared with May last year, the third such increase in a row after more than a year of falls. "May reinforced the sense that the job market in the UK is gradually regaining its footing," said Andrew Hunter, co-founder of Adzuna. The Confederation of British Industry (CBI) said its gauge of expectations among businesses about the economy over the next three months were less negative than in May but remained weak after the tax increase on employers and geopolitical upheaval. "Companies are still grappling with higher employment costs, cautious spending behaviour on the part of households and increasing global uncertainty," said Alpesh Paleja, the CBI's deputy chief economist.
The Sun
11-05-2025
- Business
- The Sun
Fury as Labour's tax hikes and red tape sink employer confidence to record lows
TAX increases and business red tape have put employer confidence at record lows, a report warns today. A quarter of firms plan redundancies in the next three months, while the number looking to hire has fallen to its lowest outside the pandemic. 1 A survey of 2,000 bosses by the Chartered Institute of Personnel and Development found the rate expecting to increase headcount has fallen sharply. Bosses are blaming the £25billion hike in National Insurance announced in last year's Budget, which started clobbering them last month. They are also concerned Angela Rayner's incoming Employment Rights Bill will pile complex and costly responsibilities on companies. James Cockett, senior labour market economist at the CIPD, said: 'From April, employers across the UK have begun to feel the full effect of increases to National Insurance Contributions and the National Living Wage outlined in last year's Budget. 'They're also looking at the potential impact of the Employment Rights Bill on employment costs and plans, and this comes at a time of global uncertainty. 'Employer confidence is low, which is being reflected in their hiring plans.' The employment legislation will give workers a raft of extra rights from Day One in areas such as sick pay. The CIPD's tracker of employer sentiment fell last quarter from +13 to +8. Shadow Business Secretary Andrew Griffith said: 'This report only confirms what we hear daily from the shop floor to the boardroom: confidence has collapsed. 'Labour can't understand why because their Cabinet has zero business experience."
