From CHIEF to CDS – Prepare to move to the new Customs Declaration Service

May 17, 2022

Commenting on the ONS Labour Market statistics for May 2022, BCC Head of Economics, Suren Thiru, said:

“Although payroll employment continues to rise and the unemployment rate is falling, the headline figures more reflect several distorting factors, including rising economic inactivity, rather than the reality on the ground.

“Record jobs vacancies highlight the perilous hiring crunch facing businesses. With rising economic inactivity confirming that the UK workforce is shrinking, labour shortages are likely to persistently drag on UK growth by stifling firms’ ability to operate at full capacity.

“Although total earnings growth rose sharply, the robust headline figure more reflects strong bonus payments rather than a meaningful improvement in underlying wage growth. Despite recruitment difficulties, the damage to firm’s finances from soaring inflation and rising national insurance will limit the extent to wages can continue rising.

“While demand for workers is currently strong, the squeeze on firms’ finances from soaring energy bills, surging inflation, and the increase in national insurance is likely to weaken recruitment intentions and weaken wage growth in the near term.

“An emergency budget is urgently needed to give firms the breathing space to recruit and retain staff, including reversing the recently introduced National Insurance increase until at least the next financial year.”

Measures for inflation at the highest levels on record

Measures for inflation at the highest levels on record

More than 4 in 5 (82%) cite inflation as a growing concern for their business, also an historical high   Three quarters (75%) of firms report no increase to investment in plant/equipment    The BCC’s Quarterly Economic Survey (QES) for Q2 2022 – the UK’s largest...

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Jobs Outlook: Spotlight in Yorkshire

Jobs Outlook: Spotlight in Yorkshire

An in-depth look at Yorkshire's economic and recruitment activity The latest data for Yorkshire & Humber shows a strong increase in hiring activity as permanent placements increase at its fastest rate since February. On the other hand, staff availability has...

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Sportsbroker extend commercial partnership for three years

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Back of shirt sponsor SportsBroker have furthered their commitment to Town - SportsBroker and Huddersfield Town agree three-year extension- Real-money gaming platform to continue appearing on back of shirt- Commercial Director Ian Birtley and SportsBroker Founder and...

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