Research from The Global Payroll Alliance indicates a 77% rise in UK search interest in redundancy rights due to recent economic policy changes. Following the Labour government's Autumn Budget, which increased the National Living Wage and National Insurance Contributions, businesses faced higher staffing costs, leading to significant job reductions. Interest in redundancy-related terms, as well as job vacancies, has surged as many seek new employment. This reflects both a growing awareness of employee rights and the pressures on businesses to manage costs amidst economic changes.
The impact of Labour's decision to increase the living wage and employer NICs is already having a profound impact on UK businesses, especially small businesses that cannot easily absorb increased staffing costs. What's really apparent here is that these increases and the subsequent redundancies came relatively out of the blue. There was little in the way of prior warning.
Since October 2024, online search interest in the term 'job vacancy' has increased by +5.8%, while 'job near me' is up +4.7%. This indicates that people are actively looking for new job opportunities.
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